I share your feeling, but having talked with folks who are emotional about how "bad" this show is, I realized that there are people that wish a show would come along and explain to their non-techie or non-Bay Area friends what the place is about. That desire seems to emanate from a need for acceptance (well understood) and compassion.
I have found it is similar to trying to explain what being in love is like to someone who has never been in love. You can say "There is this other person who you would walk on glass, barefoot, to get to and help." And they say "What? You don't have time to put on a pair of shoes? Seriously, how much longer could that take?" Not having experienced the emotion they can't imagine how much of your 'self' you are willing to put aside without question.
So your midwest relatives just end up thinking you are 'weird' and you have to be ok with that.
So I speculate that that is where a bunch of the angst comes from, people in the startup community would love to be understood by people outside the startup community but can't communicate that difference. So they are sad that Bravo tried and missed completely. But as you said, it wasn't Bravo's goal.
Also a Bravo show. Bravo maintains their own niche in reality television production by casting seemingly normal characters (that keeps their production cost low, as opposed to dropping the character in desert or on a crab fishing boat) and pitching them one against the other in highly emotional setting with artificial drama.