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I wonder if the high income viewers will save the show, even if on the face of it the ratings stink. Like you said, luxury retail loves the $100k plus crowd. That is why CNBC day time and golf make all their money. (CNBC's viewers are, on average, the richest on TV). Sometimes its not about how many are watching, but who is watching.
As for the critically acclaimed argument, most shows that I think about staying around for that reason have shorter runs compared to hits. Arrested Development was loved by critics and was around for all of 3 seasons. In the end, the viewers need to be there. It all comes down to profit. Maybe the feel good effect means the executives will accept less profit, but they will not tolerate a loss
On the other hand, I was a HUGE fan of AMC's first original series, "Remember WENN." So I know they've had quality offerings before, and I understand the worry over the ratings. (Not that they treated that one well when they had it. I'm still angry over that.)