First, the whole premise of the show was a cheesy attempt to play off the success of the Pirates of the Carribean trilogy.
Second, they kept doing the same thing over and over and over. 2 crews hunt for treasure, they moan about a mutiny (but never actually vote for it) and someone gets cut adrift. Why didnt they at least make them walk the plank? Thirdly, theres nothing virtuous about pirates - they were/are criminals, thieves and killers. Fourth, the concept of ejecting contestants until 1 remains is becoming a tired concept. They should have used 2 crews, each would accumulate as much treasure as they could and the crew with the most money at the end wins. All this back stabbing, lying and deception has gotten old - all shows of this type are based on it. I stopped watching Survivor years ago because its basically the same thing done over and over and over again. Lastly half the episode was them talking - blah, blah, blah, blah. Boooooring. They should have at least started some fights and let the fists fly. Some hot girl on girl action with plenty of hair pulling would have spiced things up.
The Shark Jumping moment came when the ejected pirates returned as "ghosts" and promptly lost the key to treasure. This was only the 2nd episode where I actually watched all of it. Too bad "ghosts" didnt return with cutlasses and pistols to capture the ship, make the crew walk the plank and steal the treasure. It would have at least made the series go out with a bang; and been the only realistic pirate thing on this whole show.