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The winner couldn’t be worse than some of the existing cast members.

Reality Contest for ‘Saturday Night Live’ Berth
LOS ANGELES (Hollywood Reporter) – The always fierce competition among comics to land a gig on NBC’s “Saturday Night Live” is set to become the basis of a reality series for the network.
Sources said NBC is working on a reality-competition series fronted by “SNL” creator/executive producer Lorne Michaels. The project would chronicle a group of comedians vying for a grand prize that is believed to be a role on the long-running sketch comedy series.
Michaels is expected to play a Donald Trump-like role, winnowing the pool of contestants until a victor is selected. Sources indicated that the project is eyed for a possible summer launch. NBC declined comment.
Michaels got his taste of getting tough on reality series contestants in a “SNL” parody skit of NBC’s reality hit “The Apprentice” last season, in which he took over Trump’s role and “fired” cast member Jimmy Fallon. NBC already has a track record in turning talent searches into a successful reality series with “Last Comic Standing.”