I don't see how this can even compete with something like treehouse or code school. It's the same sort of online course that is being offered everywhere across the web and the price, in my opinion, is pretty outlandish.
I dove into programming in November as a complete newbie. I use every resource under the sun... railscasts, http://ruby.railstutorial.org/ruby-on-rails-tutorial-book, Treehouse, Codecademy, RailsTutors, This course, among dozens of others. This course is very well structured and offers a deep understanding into the Ruby language that none of the other resources compares to. For me, I take a bit from everything. I am confident that the route I am taking would blow away any formal education for building web applications. So a $199 price tag is extremely reasonable. There are other FREE ways to learn as well. To each their own.
As good as Code School is (I'm not familiar with Treehouse), its Try Ruby lessons are relatively shallow. A good introduction, sure, but I think this Prag course goes somewhat further.