While I'm empathetic towards the founders who got the short sticks on this episode, I just watched episode three (having not been aware of the show before reading this post) and it was exactly what I'd expect a show like this to be. If an incubator gave me an ultimatum like "reality documentary or hit the curb" I'd run the other way as quickly as possible.
Melanie might be strong and brilliant, but there's real live footage here of her being unrealistic, ineloquent and covering for a weak business model (in which she appears to have zero unfair advantage) by hiding behind a claim that "developers just don't get fashion".
This show might be trash but her responses to medium-hard questions about her business model don't suggest CEO DNA. I've never met a competent CEO that says "like" constantly and says what they think VCs want to hear.