Paul,
The program was cohort and the online community existed within/through courses. Same as you, I?d be willing to pay a fee to continue to have access to that community and resources, but not sure for how long.
My knowledge regarding ?water cooler? is limited, but as long as participants? ?self identity?, ?social identity? and ?social relations? are formed in a shared space and ideas are exchanged, I would call it a community.
I also think the ?nomadic way? we migrate from community to community is influenced and affected by norms in communities, the way loyalty is established, good leadership as well as our roles in the communities. How many communities can we simultaneously be ?active? in? The answer depends on our needs, time and knowledge.