MIT and the other schools know if they gave away their core curriculum's online that are basically the same thing then less people would want to go to the school at the current over inflated rates. If you guys are looking for a revolution in online education, I hate to say it, but don't look at traditional institutions to do it.
The revolution in online education will be done by someone similar to a Steve jobs or Jimmy Wales (wikipedia) that basically has no connections to the traditional education industry but is just very motivated to change the world for the better. We all know that teaching is not rocket science (many people can teach it) and most of the significant human knowledge is being written down in books. The only exception is for the stuff that is cutting edge latest research but of course people aren't going to learn those topics until they've learned all of the other known subject matter on the topic which is recorded in books. So overall, the goal here is to simply take those books, produce free equivalents of them (the knowledge in the books are NOT subject to copyright) and then create some sort of online self-study system where people can learn the material. Tools need to be created that help people to learn the knowledge on their own and offer innovate tools to self-study.