I'm a big believer in realistic academic settings. That's a big part of my research agenda. This new "school" seems like an idea-farm for Google posed as a something that will benefit students. They say the students will keep 100% of their intellectual property but I'm not sure I would trust Google with my idea. Regardless, what happens when the student's app fails, as most do? Then you're just out $10,000 and don't have a real education.
There's an interesting push right now for alternative education options for designers (e.g. Center Centre). I'm interested to see how it shakes out. I agree that that the US higher education system is not the most ideal for designers. I also think that there is a huge benefit to designers learning about non-design subjects as part of their education (you know...philosophy, psychology, sociology, history, rhetoric...that stuff). Interesting time for design education. I'm glad to see people trying new approaches but I can't imagine that 30 Weeks is the solution.