What's with all the hate? "Fake" entertainment is still entertainment, in fact Hogan already comes from a legacy of acting like a pro wrestler while being technically lousy at it. This is nothing new to Hogan's alley (teehee).
Regardless, I do think that's a little pricey for the show. It's light entertainment that is great every now and then, it isn't a sweeping saga or amazing, epic drama. If anything it's a sitcom masquerading as a reality show so they can save on production values, but the positive side to that is you don't have to suffer an inane laugh track (sorta like "The Office" but nowhere near as clever). If it gets cheaper I'd consider it, but even then I doubt I'd watch more than two episodes in a row at the most.
Maybe I just bleed a lil' too much red and yellow?