Rarely do you see a real reality TV show. They're all fake. They're scripted to gain an audience and to make money. There is no reason that a child needs to be involved with a fake reality TV show, in my opinion. It doesn't add any value to the child's life.
First of all, I would like to tell you that all the TV serials are scripted so no use of participating in all these stuff. Second thing it can spoil studies and can be diverted towards these serials.
It's up to the parents if they want to include them in their reality shows. It could be good or bad depending on how everyone includes them and approaches this in general. It's really not for us to judge.