I remembered seeing one or two episodes what seems like five years ago, but I thought it was like they only came up with an episode or extremely short season every Halloween. All I remember is that I thought it was hilarious.
I did a little research and found this article on IMDB which makes perfect sense on why it would be difficult to keep going as a regular series:
Rising Insurance Costs Hit Reality Shows
17 February 2003 | From Studio Briefing | See recent Studio Briefing news
The lower production costs associated with reality TV shows could become offset by increasing insurance premiums and legal fees, the Los Angeles Times observed today (Monday). The newspaper called particular attention to a lawsuit filed by a woman who claims that she experienced trauma causing her to be hospitalized several times when she became the object of a prank contrived by the producers of a new Sci Fi Channel show called Scare Tactics, which is set to debut in April. Filmed with hidden cameras, the woman, Kara Blanc, was allegedly led to believe that she had been targeted by an "extraterrestrial murderer." Such programs, the Times observed, represent a particular legal problem since participants do not sign releases in advance consenting to appear on the program. Blanc's lawsuit also asks the court to stop the producers from engaging in "the unfair, unlawful and fraudulent business practice of surreptitiously recording the traumatized reactions of any other persons in the future."
It makes me wonder if the new season won't be as funny as in the past, or if it's going to be staged.