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Surely these can't be the best candidates in the country?
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I suspect that some are chosen both for their entertainment value (as someone else mentioned) as well as their ability to be difficult people to work with. The show is a test of business skills, and one of the most important business skills is to be able to work with and/or control difficult people. There are ALWAYS difficult people in a business situation.
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I like Raef. The guy may be very confident, but that is a necessity in any leader. Someone who is very confident may or may not be followed by the people below him (depending on whether they think its over confidence or not), but someone withough confidence will NOT be followed by those under them. And if a confident person can back up their confidence with their actions, they can succeed - and Raef showed that, as every person on his team said they thought he was a good leader on the task.