Agree with all on the point that the CVs should have managed the tracks well and if they decided to have new characters in the show, then they could have been given them a complete fresh story.
The professional phase of running an Academy, them turning their passion into a career- there was a lot of scope to show their emotional journey. Everyone knows of changing relationships between friends once you're out of college.
Man there was a lot that could've been nicely developed had they only put some thought into it.