i don't know if that's "less" or "more" than a graduate certificate. Certificates don't usually give you half the credits toward a masters program at the same university, do they?
I can see this being great "marketing" for the university too though -- once you got the "micromasters", the only way to get half your credits toward a degree is to go to the same university that gave you the micromasters (if you can get accepted, they took your money for the micromasters without promising that) -- they've kind of locked you in.
I dunno, giving people who might not be able to afford a masters otherwise or aren’t able to move away for two years an opportunity to get half a masters degree from home seems like a pretty big deal to me.