No way - Apprentice has been done. This has got to be a Survivor-format kind of elimination, complete with pointless (yet entertaining) challenges. Kind of a Survivor meets Office Space kind of thing.
Based on mike_v_s' posts in this thread, I nominate him as creative director for designing the challenges.
My office has 2 levels, and a big open space in the middle. I always thought this would be the perfect place for team paintball.