Anything that can pull up TRPs. Be it im-moral or plain crap anything in the name of entertainment.
Infinite series are preferred over finite series because of the it's drama quotient. An ordinary infinite series climaxes at least 2-4 times in a week. However the finite series are usually thrillers or shows like Aarambh, the kind which would keep its audience at an edge, reveal the tale bit by bit. And today's audience is highly impatient.
Second reason is the audience. Audience who watch these shows are usually house wives and prefer the kind of shows that they can relate to.
Reality shows are myths everything is completely scripted and directed. Contestants who are more stylish or good-looking are preferred over the talented ones, because anything that happens in the TV is for the TRPs. Which implies the audience is the judge, if a non singer, or a non dancer is the judge of the singing or dancing contest you can very well understand the outcome or mode of judgement. Hope it clarifies a bit.