Questions:

Best teachers can't be replaced by a comp. So doesn't take jobs from good teachers. MOOCS can automate more routine parts of teaching though.In some poorer regions there aren';t teachers and MOOCS give opportunity to learn there.
Peer grading - after submitting, student is trained as to how to grade work. All students required to grade certain number of assignments. Student's grade is determined as average of grades achieved according to other students. - Andrew gives 'B' for quality of peer grading. If found a grade is unfair, can be bumped up. Data collection allows to see who isn't grading well also.
Fee for cert is shared between unis and coursera to sustain coursera. Coursera currently not making profit. Also offers financial aid to some.
What could have been done differently - teaching shorter courses.

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About online eductaion revolution. From ACM webinar presented by Andrew Ng - cofounder of COURSERA.