The Truman Show made real. An average guy aka the Schmo is put on a reality show which he thinks is real when in reality it's all scripted and acted. Featuring all the familiar types of reality show contestants, the show gets wackier and wackier as it goes, culminating in the 'contestants' revealing to the Schmo that everything is fake.
Joe Schmo works both as a kind of social experiment to push the limits of what people will believe as well as a brilliant parody of reality shows. It's hilarious, bawdy, outrageous, well-acted and touching all at the same time.