My fear is that it will be yet another exercise in futility.
That is the most likely situation; and the fact that no one knows for sure is the reason why hopes are kept up...
you never know.
It's what works best for the production company - it's another way of 'casting' - which contestants will make good tv, and which contestants will make good tv
together, and at which point - they have to factor everything in for a good television show;
not about making anyone's dreams come true. As long as they keep people's hopes up, those people will still be in the pool to pull from if the prod. co. suddenly thinks that this person could be of some use.
It's like checking the box at the end of a registration form "We would like to include you on some of our partner companies' special offers from time to time, check here if no"... leading you to think you might really be missing out if you say no.
Same reason why people buy lottery tickets.
(Same reason I still go to auditions! But not open calls... I'd at least rather have my chances narrowed down somewhat
)