The one thing I liked about MMAS is that you got to see a lot more INDUSTRY things. When I watched that show, I actually felt like I was learning something about the modeling business. The final four got in to see known design companies, auditioned for commercials and all the contestants got to go to industry parties where hopefully they made come connections, and the models actually got to walk (and get paid) for Fashion Week. They also showed different types of modeling as well, like for department store events, art installations, etc. There was drama, but the drama never got in the way of believing that you're seeing the modeling industry. I also like the way they made them do runway every week. The only thing I didn't really like was the voting system.
When I watch ANTM, I don't even see it as a legit modeling competition any more; it's a reality show with a bunch of drama and catfights with some modeling thrown in haphazardly for good measure.