I thought it was actually really funny as a sitcom, however, it was ruined because the premise was that it was real (well, 3 actors, 3 real people).
However, the situations just seemed to perfect. I mean, this guy was getting really stressed out about something, but there was a cameraman right in front of his face. This is not like big brother with the hidden cameras, there are camera crews walking around them. I mean, would you loose your cool if you knew you were being filmed? I wouldn't, however, big brother is different in the way that the cameras are hidden (in a way), and you don't see people physically filming you.
I'll be watching again (is it next week?), it's quite funny. I would really like to know the truth though... are all the people told to act, or do they really not know what is happening to them?