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.