100% Legit.
I contacted MIT and this was the reply.
After speaking with the site's owner, it looks like this is an altcoin project that was started this summer by a small group of MIT students.
I hope this helps.
Apologies to the MIT devs/students for making waves, but with the amount of scams going on lately, this was crucial.
Its understandable. But we have decided to just run the intellicoin.me site further. If you have any questions, feel free to send me a message.