I read about this show and the first thing that came to my mind was "Lord of the Flies". I've read people saying this already, and making bad comparisons, but I thought it could be fun. And it was.
Kids are always kids, and that's what I love about them. It's fun to see they trying to manage problems in kid's ways, and funnier see them playing around (the bandana fight at the end of the episode was awesome!).
I watch this show not to see if they can build a good society being kids (and I really don't have this idea: kids are cruel, and your raw sincerity is not always good for human relationship. I watch this show because they're... kids. Oh, c'mon guys, don't you love to see them? :)