It could be good, but it has a lot of problems. Like:
1. They should cut it down to an hour.
2. Also what is up with them only trying three of the things in the beginning?
3. Their criticism is often mean-spirited without any constructive aspects, especially that bald dude. He is always going on about "what we are trying to do here" - wtf does that mean anyway?
4. In the ingredient identification challenge, they should tell you everything else at the end that nobody identified.
5. I am not sure how the prelims went, but there was still too much diversity of experience coming in. Some people were just totally outclassed.
and so on... I'd rather they had just used the Top Chef format instead.