The rocksalt structure of ZnO has a very promising bandgap for optoelectronic applications. Unfortunately, this high-pressure phase is unstable under ambient conditions. This paper presents experimental results for rocksalt-type ZnO/MgO superlattices and theoretical considerations of the critical thickness of MgxZn1-xO layers. The correlations between the layer/spacer thickness ratio, elastic strain, chemical composition, and critical thickness are analyzed. The Matthews and Blakeslee model is revisited to find analytic conditions for the critical layer thickness resulting in phase transition. Our analysis shows that due to the decrease in misfit stresses below some critical limit, the growth of multiple quantum wells composed of rocksalt ZnO layers and MgO spacers is possible only for very large layer/spacer thickness ratios.