I've been watching on TV Cinq Monde and I find it entertaining. Seriously, I don't understand the criticism. Why would anybody get his (or her) knickers in a twist over this harmless bit of TV? It's not intended to be realistic or profound. It's just a soap opera -- the French equivalent of, for instance, EastEnders. There are definite parallels to EE -- several families, different backgrounds, organized around a square with a local hangout where everybody fetches up sooner or later -- the pub in EE, Roland's bar in PBLV. Sure, there is more melodrama than there would be in any real urban setting -- again just like EastEnders.
It's entertaining, the actors are almost all appealing. Ça sert à passer une demi-heure. What else do you want? If it's high drama that you're hankering for, don't watch PBLV, go to the Comédie française and catch some Racine.