Knightmare

And to think this is the same nation that gave us Doctor Who...

After watching a few clips of this, I just don't eve know what to say. It's a UK show called "Knightmare" (was spelling it with a K supposed to make it fun again?). 

This interesting article sums it up rather nicely:

 "...four weedy pre-pubescents from the Home Counties, dressed in pastel-colored polo shirts and looking like they would quite like to go home now, please. Three of the team members acted as “advisors,” sitting in front of the magic mirror and making notes on enchanted clipboards. The fourth player, or “dungeoneer,” got to enter the actual dungeon." 

 Sort of like a VR world where...no one really got to experience anything. And to think we just used to run around outdoors and bash each other with sticks and squirt each other with supersoakers...