new style for a code school

We recently had this conversation in our general slack channel:
https://www.youtube.com/watch?v=xuTnWTaSlVI

The new mode in code schools is you take a very senior full stack engineer that's been working in the industry for many years and put him "in charge" of a fake web development company with lots of reports, i.e. students. You build stuff like you would at a company like Facebook or Github etc but all the work is designed to teach new programmers how to code. i.e. it's like Law School or MBA program where students take the work very seriously but are not getting paid. In fact there is a big tuition. But after 2 years in code school, you emerge a full stack senior engineer yourself.