Too good to be true in my opinion.
It covers too much ground and (at first glance) does not really offer anything, you can't get somewhere else on line, for free.
I think everyone who has got so far in photography, as to frequent photosites, may want to improve certain aspects of their photography and should/could concentrate on that.
For £49 you can buy a jolly good book on digital photography, that takes you from start to finish, and covers more or less everything the course seems to cover.
You won't get a 'diploma' (on PDF), but you're left with a good, solid 'manual' you can sit down with, and consult whenever you feel the need.
Well, this is my cynical view anyway, but I see Jinky had a good experience with it, and in that case £49 does not seem to be that much!
Depends what you're looking for, and if this type of learning suits you.