That is actually pretty freaking kewl. Incredible possibilities for instant replays. Plus, you don't have two guys beating one another to a bloody pulp for 3 5 minute rounds. Just as soon as one guy gets an advantage and submits his guy, it's like dominoes, the refs keep it from getting too out of hand and it's over!
I can see a fireman series, cop series, rap bands fighting it out, hell, ANY team because it's not going to be this typical MMA one on one thing where you NEED to know what you're doing.
Gangs can settle their differences. Church groups, boy bands...
BAE Systems v. who?