It's mildly entertaining, it holds the attention for now but I can't see there being enough of an audience for it to last longer than a single season, but who knows.
I also think that we are only seeing the tv magic part of the show; think how boring it would be to see the tanks empty because they were cycling. If that is the case, they could at least be upfront and say, "while the NY tank cycles in prep for the marine life, we started work on the cylinder tank" etc, but again, it's tv and it's not a show about animal husbandry. Face it, to anyone but true marine Aquaria enthusiasts, fish keeping and reefkeeping is booooorriiiiinnnnnnggg, and on tv it would be 10x as boring to watch...
So as said above, take it at face value as a mildly entertaining, semi-staged "reality" show that is on a summer season...my guess is that it will be long gone come the fall once the real shows startup. I for one have it relegated to the bedroom dvr for late night pre-sleep viewing, but that's me...