Yeah I figured all of that. I just hope that the better stories prevail. However, with the lowest common denominator being the jersey shore and honey booboo, there isn't much luck out there for good shows.
Though even some of the period pieces are expensive too. Look at Marco Polo, a really good show that probably won't make it past the second season. The cost for the first season was nine million an episode and while the show was really good, it did not receive excellent marks. Look at the HBO show Newsroom, a fantastic show with lots of potential. However it received constant scorn from critics because it attacked the holy institution of the news media itself. Most of its detractors were in the media business. Although that show was killed by Sorkin himself, it is just an example of the rampant stupidity surrounding some shows. Let me get off my soap box before I asphyxiate lol.
Reality TV is great to the industry because the costs are low and the viewership is high. Viewership = mo' money charged for advertising.
I've never seen the Newsroom, but I've read a few articles outside of mainstream media which criticze Sorkin for his handling of the show. It was if he had no plan for the second season and by the third he was ulling ideas from a cat's litter box. I can't speak to the veracity of those observations, but if true he killed the show through ineptitude.
At the end of the day: