This is the show that put the UFC on the map and brought MMA to the masses. It gives young up and coming fighters the chance to fight their way into the UFC, to become a UFC fighter.
Some of the action takes place in the house where all the guys are staying. Due to the fact that these guys will be fighting each other at some point, a lot of testosterone and bravado emerges, with many guys hating each other. It's a purposely stressful environment, purely to bring out these adversarial reactions. This may seem childish but it generates an anticipation and gives the fighters a history which can make a fight much more fun to watch.
Many of the fighters are quite rough technically and haven't built up the stamina to last three rounds. Putting these fighters with top trainers gives them the opportunity to reach at least part of their potential.