We consider the continuum string theory corresponding to the Marinari-
Parisi supersymmetric matrix model. We argue that the world-sheet phys
ics is exotic, and different from any known supersymmetric string theo
ry. The embedding superspace coordinates become disordered on the worl
d-sheet, but because of the noncompactness of the embedding time the d
isorder becomes complete only at asymptotic world-sheet scales.