NASA, Saylor Foundation to Offer New Free Space Systems Engineering Course

Since this is affiliated with a government agency and aimed at the general public, my main concern is that the material will be completely insubstantial.

Not a MOOC, but the Stevens Institute of Technology offers an (online) accredited graduate degree program on the same topic: http://www.webcampus.stevens.edu/Space-Systems-Masters.aspx

Why are they always 'Massive'? What if only 4 people sign up? Then is it a TOOC?

“Fool of a TOOC!" he growled. "This is a serious journey, not a hobbit walking-party."

Does anybody know if they are going to archive the content like opencourseware? It would be nice to be able to follow at your own pace.

Yes, they will.

yes, Saylor's mission is to create and/or locate OCW equivalencies for an entire degree. You can see what's currently available at Saylor.org

I'm currently doing their 'Math Degree' it is self pace and excellent.

Thus society finally finds out whether the phrase "It's not rocket science" actually has any merit.

I remember John Carmack saying something along the lines of game engine development being harder than rocket science.