Well, I think the basic idea is sound. In the last season, there were two people that effectively weren't given a fair chance. They were two pretty strong players, but the rest of the team was so weak stratigically and physically, that they never had a chance.
The problem I have is that realistically, what is the difference between that and a team that goes into the merge 2 men down over the other team (4 to 6)? Has anyone ever won after going into the merge from the smaller side? I don't think so.
Still, in a lot of ways, it's kind of cool to see a few popular players back, sort of like the Survivor All-Stars, getting a chance to root for your favorites again. The real problem is that their odds of actually winning are fairly slim. Last week, even though Steph was clearly a strong competitor, but not threateningly so, there was talk of kicking her off just because she "knows the game", which is a cop-out because the game is about the people around you and changes every season.