I'm somewhat confused as to how this would work. Surely the university is responsible for awarding the degree and academic staff choose a supporting textbook to help students? So I assume universities wanting to use a textbook don't have to adopt the system.
I suppose you'd be forced to buy books from your school's bookstore (where they're ridiculously overpriced) to get online access pass which, as i recall from my school years, expires after certain time since purchase and cannot be reused. It's a clever way for this guy to make a few bucks off of poor students. He should be proud.