Holy shit, I had no idea they were bringing this concept back. The first season that aired in 2003 was the greatest reality show I have ever seen by a mile. A memorable satire of the genre wrapped around a show where only one of the contestants was a real person. What made it tone perfect was the "star" Matt Gould who came across as one of the most genuine people to ever grace TV.
I remember the second season didn't hold a candle to the first and was not surprised it went away. I'll be checking out the revival with hope it carries the heart of what made season one so special, but won't hold my breath.