What happened to the Hoop Life is sad because the premises of the show were great. There was a lot of potential for development and something great.
The only problem is: they didn't deliver. The characters were weak and under-developed, the episodes had a hard time connecting between one and the next and you ended up being more than a little annoyed at those spoiled brats being paid top dollars to act like babies.
The cast ensemble was good and I think they could have exploited the many facets of the characters way differently and made people connect with them on a human level instead of leaving us indifferent to their plights. I can only hope they would have done it better had they given it some more thoughts.