I do product engineering for two accredited online schools (i.e., writing software), this is the kind of thing I'm in the middle of daily. Seems like a prototype product with a lot of promise; it's fun to check it out.
1. Videos did not play well, I gave up and went to the assessment.
2. I would think an initial assessment would have quite a few more questions. I was 8 for 12 with no chemistry background, couldn't seem to correct the third question. Building course material and writing exams takes effort, curious to see how well the reading material covers the next exam.
3. Forums and social aspect - we've dropped all of that; it's superfluous.
4. As far as I can tell this is a MOOC, they usually don't survive unless there are paying students in a decent portion of classes. http://en.wikipedia.org/wiki/Massive_open_online_course
It's good to take advantage of this and read up on all the material provided.