I find most of today's "reality" shows have little to do with reality, at least as I live it. Survivor, Bachelor, all of those shows are game shows, hyped and hyper contests and nothing more. At least American Yodel admits to being a contest, which gives it points for honesty.
On the other end of the spectrum, what should be reality programming, on the news channels, is more and more a parade of talking heads with shrill voices, and less and less about reporting news. Again, this is not reality. On a more local level, constant car chases, whether on fictional cop shows or showing cops in pursuit of a real suspect, has little to do with the reality of people's lives.
Does anyone remember a show called Real People? It was quite often silly, but it took the time to show average people who all the same found interesting things to do with their lives.
Fair and balanced, to me, does not mean arguments or exploitation of events. Yes, big news stories are out there, but they need to be put in perspective with the real stories of everyday people. We're a far more interesting nation (and world) than our television programming suggests.