I think there's a great opportunity to take online classes to the masses without sacrificing the quality of a brick and mortar education. These classes don't need to be offered free, just cheap. If they charged $10 for the whole class (a steal really!) they'd make $1,000,000 a semester per class. That should pay for the bandwidth, and teacher, and material. Scale that to less niche classes, you have a real business! I'd personally pay $10 for a class, even if it did not qualify for credit.
This was an initial experiment so I am pretty sure they will change the format a little bit later. lots of people signed up for all the classes and it was difficult to do all the three at the same time but if given the option of doing it at your own pace I do not think it will go down.