|The Fantastic Four|
Obviously this would skip over the groups origins, but they don't really need to be retold. Nearly everyone knows how The Fantastic Four got their powers and it's not the most interesting story to tell. That's not to say they can't be referenced. Every reality show needs a great opening. Why couldn't 'The Fantastic Fours' show their origins? So how to show the reality show set up.
They could take the route 'The Hunger Games' used and have an actor portray a presenter commentating on the events of the film. Why not take a character from the Comics for this? One character they could use is Dazzler. Fox has the rights to the X-Men characters, including Dazzler. Although she is a singer in the comics, during the 'House of M' reality she was portrayed as a talk-show host.
We could have a great first act exploring life as a family, heroes and celebrities, which should create a dynamic different from most other Superhero films. This would follow shows like the 'Kardashians' or even 'Modern Family' allowing characters to speak to the audience and should have a comedic tone.
But every great superhero film needs a great villain. I'm not entirely sure who should be the main villain of this film but know that it shouldn't be Doctor Doom. He should be saved for a later film and pose a huge threat. That's not to say he couldn't be referenced but he shouldn't be the villain of the piece. If the piece focuses on the family dynamic and fame I think the Puppet Master could be a great foe. He could control the Fantastic Four and try to turn public opinion against them. It probably won't be part of the Marvel Cinematic Universe (although I can dream) but if it is it would be great to see cameos from other Marvel heroes.
These are just a few ideas for how I think the film should go. Chances are I'm completely wrong but I can dream...