I think it would be fun as a guild workshop or retreat day. Keep it in the circle of quilters. I really enjoy going to shows and seeing all of the challenge projects and how they are interpreted.
But maybe a TV show like that would do more harm than good. You know, people who are not quilters already don't understand the time/ materials/ cost that quilters expend, and then to see a show that somebody has created or made something in an hour (even with time lapse) would then be open license for all our acquaintances to think we can 'whip' up a quilt for the next baby shower on Sunday!