The premise is to get a bunch of comic strip artists together and compete to win a working space at Penny Arcade's office in Seattle and some cash (the idea being this would be used to launch their own comic strip).
Some things that really worked well:
* There was almost zero bullshit reality TV manufactured drama
* Everyone treated each other with respect and I think every artist gained something from being on the show (new fans, support for Kickstarter projects, etc)
* Focused on the work being produced, including plenty of links to scans of all the artwork on the show website
* Episodes released on YouTube (could use existing apps, infrastructure)
* Two episodes (15-25min) released each week (short enough to consume, frequent enough to keep you hooked)
* Enough production value for it to not be a distraction; obviously this isn't a major network TV show, but it wasn't some person's first production using iMovie
* The show didn't take itself too seriously. Watch the "elimination ceremonies" to see what I mean.
Definitely worth a watch, and worth learning from :)