There's always a fresh take on a genre that can be interesting, even if that genre has been burnt into the ground. The overabundance of "reality" shows is what's finally getting tiring, not that concept itself. It's also reliant on what the show is aimed at. For example, if they made another series like Big Ron Manager I'm sure most here would be just as interested as women are with X Factor and Strictly.
I guess not as people still watch it and it gets the viewing figures. Strictly and X Factor are still top of the ratings and everywhere you look there are new shows and formats popping up. I mean presuamably people actually watch shite like Geordie Shore and Ex on the Beach as they keep making more series.