The revival doesn't hold a candle to ABC's Season 1 & 2. I feel a lot of the cast members are caricatures and the production team's edits are very suspect (such as the countdown clocks, contestant confessionals, and how the missions are structured). In contrast to earlier seasons, we really don't get a full sense of the competitors' motivations. I really can't say that I'm rooting for any particular player to bring home the prize money. The show is a way to eat up my time; I'm not as fully engaged in it as I thought I would be. This is because very few of the missions are exciting. Many of the games have ambiguous rules or just seem downright impossible. I felt lost when I tried to make sense of some of them, especially the Detonator mission and the bank heist mission.
Alex Wagner is a fair host. She has a good mixture of motherly warmth and seriousness. I can't rate her as highly as host Anderson Cooper, who incidentally also is a journalist.
The aforementioned ABC seasons were set in France, Spain, Italy, Switzerland, and Monaco. This season in Australia simply doesn't have that same spark.
It's just another scripted reality show. Watch at your own leisure but be prepared to be let down.