Physics PhD Value (for Physicists et al.)?

[Note: I ask this question in "Higher Education", but I wanted to also ask it in the Physics section.] Given the fact some schools (such as MIT) have started placing their graduate Physics cles on-line for free for everyone, how valuable do you expect a Physics PhD (compared to a Physics Master's) to be in the short, medium and long term? While the PhD highlights one's ability to perform independent research, someone with a Physics Master's and software engineering experience, for example, almost certainly performs independent research every day (Physics related or not). Additionally, the freely available courses provide the potential for any Physics student to become an expert in their particular specialty/pion. Consequently, could One not reasonably argue the Physics PhD will eventually become worth less, if not worthless?