Great! David Gelernter wrote almost exactly the way I was thinking. Albeit, he presented it eloquently.

The reason I specifically mentioned Google because, it is the only company that is crazy enough to do something like this without expecting any direct profit in return. They also have the engineering muscle and deep pocket to make it possible.

I always felt, throughout my years in school, how inefficient our education system is. Not only in USA, everywhere in the world (AFAIK).

Imagine how much effect this will have on third world countries (with the help of cheap computers like OLPC) with course material translated to local language? Ok maybe it won't be perfect and some problems needs to be solved, but it will be better than having little to no access to high quality courses of higher education?

Hell, if I had couple of millions lying around. I would give it a shot myself.