Don't get me wrong, I think it is fantastic they do it and I applaud them - it is just really surprising and I am wondering about their motives, just my own (economic) curiosity.
But my question was... why DID they do it?
My response was on the point of whether other institutions in the "diploma business" would peek to keep up. I was merely stating why Harvard, Stanford, MIT and the like have nothing to fear by opening their courseware. My intentions were merely to diffuse the notion that replicating instruction would suffice to compete with Harvard.
As to why they do it, I think other comments have covered that.
Think of this: how many people criticized Steve Jobs for not getting involved in charity, although he had billions in the bank? Do you think it looks good for Harvard University, with over $15bn in endowment to not do any good will project?
Lastly, some of these schools already offer remote learning via video. Putting the videos on iTunes is a sunk cost.
Disclosure: I went to one of those "big name" institutions as an undergrad, grad student, and I also worked there. Few are the projects that are TRULY out of the goodness of somebody's heart
No Ivy League school is suffering from profits and, as was posted, the degree from the school holds the most value. It also would help future potential students be aware of what is demanded of them in these academic institutions and potentially give them a chance to learn more should they choose to do so.
Top professors at top universities have a lot of clout, and despite the many issues there are with the current system of higher ed, I do believe that a lot of this work is sincerely driven by the ideals of good professors. Look at the interviews with Sebastian Thrun regarding the AI course, he clearly believes in finding a models of maximizing the quality to cost ratio for education.
Culturally I think places like Stanford, Harvard and MIT know well that many times you don't find your business model until you experiment, and if you want to be in charge of the future you have to be the one doing the experimenting. I think the angle that sells this to admins is that if you're a leading university you want to be pushing these boundaries, and if you want to be a head of the curve you need to be.
I am class of '08 at Harvard and actually took this course (taught be a different professor--excellent when I took it). There were a handful of Boston and Cambridge locals who sat in and took the course with me. No one ever said a word to them. When I took a course on the history of Hollywood Cinema--where we watched 2 movies a week on the big screen--there were probably 30 or so locals who sat in on the lectures. No one ever said anything to them.
So Harvard has been a part of the community for some time now .. it's just more public now that you can disseminate lectures on iTunes and the internet instead of actually sitting in the lecture hall.