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arun219
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Unlikely that they will ever replace MBA because it is an experience rather than just reading a few books and doing some cases. I've taken a few courses on Coursera and while they are very good for self-study, they hardly offer anything substantial that you wouldn't get from reading few books.
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No chance, at least in the short term.
The connections that you get from attending to an MBA are one of the most valuable assets of attending a full-time program.
Executive programs also give you those connections.

An online program helps you to get some of the classes, but I don't think they can give you the type and the degree of friendships than a regular MBA does.
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Interesting question- and I agree with responses that a FT MBA program is much more than just what you learn in the classroom. I do think there are starting to be some online MBA programs that use platforms that are very interactive- such as the 2U platform and when combined with regular immersions where you can meet classmates face to face- that this could be a viable option for some. But those relationships and friendships formed in the Full Time MBA program are what stand the test of time and become part of your professional network. But for spot learning on a particular topic- Coursera and all the new online options are certainly adding some value also.