The "contestants" in reality shows are the product, not the customer.
I looked at the announcement, and I'll probably tune in for the first show, but I think you'll see a lot of 20-somethings out of art/photography college (those most likely to benefit), a token "oldie", and some crazies. I doubt anyone will truly get selected on photographic talent or potential to be in it - primarily their entertainment value.
If you totally nailed it then you might get yourself an assisting job for a decent fashion or commercial photographer - which in itself would be a great start if you wanted a career in that field. But I doubt it would appeal to any of the wedding/portrait/landscape/air-show/motorsport/wildlife/school-kids photographers on here who either have a business to run or a job they'd have to turn up to so they can pay the mortgage.
Can you imagine the catty bitching that will overtake the forums of the UK though while it is running, and I'm sure somewhere there are a gaggle of pro fashion photographers in a pub shaking their heads disconsolately.
As above it would be nice to see some decent photography programmes on TV, and not just a re-rinse of the reality show format but this time with photographers.