It's good for a laugh, but ultimately not much more useful than going to epicurious or allrecipes and randomly picking a recipe. Usually, the problem isn't not having any recipes, it's not knowing what to make given the ingredients already in the 'fridge and a limited amount of time.
I'd think it was way cooler if you guys did the recipes yourselves (complete with photos / video). You wouldn't have to put on a show other than make good food (and make it well). Be irreverent and then show me how to grill a pork chop to perfection.
What I need is wherethefuckshouldwegoforlunch.com. We call this concept "spinning the big wheel of lunch". The Urban Spoon iPhone app comes pretty close.