I don’t think these guys have enough money to make it as a university. Where’s their anchor billionaire? Are they doing this Lean Startup style?
The main risk it faces is that entities with similar propaganda mission and appealing to similar tribal identity are already thick on the ground, but that hasn't seemed to be a major problem for new entities in the space recently, so I wouldn't bet against them succeeding to the extent of creating an durable operation, even if its never anything credible as a university.