Legendary producer Mark Goodson somehow didn't grasp what made Squares work and hired a first-time host [Bauman] over Marshall. Add the aforementioned conflicts, Wood's statement and competition from General Hospital, and it's a grand wonder how the Hour managed to last 39 weeks.
Orion Television was responsible for Bauman being picked to host Squares, even turning down original host Peter Marshall, who reportedly was interested in the job.
Keep Circulating the Tapes: The show hasn't been rerun at all since its initial airing, and it's not even due to lack of interest - since the rights to both Match Game and The Hollywood Squares are owned by two different companies (Fremantle Media and MGM Television, respectively... with CBS Television Distribution complicating things even further by owning Squares' format rights), the show literally can't be rerun, barring an agreement between the two companies, which is very rare. Around 20 or so episodes circulate (including at least one full week), several of which are available on YouTube.
Several stories have existed through the years, including host Gene Rayburn's extreme dissatisfaction with the show leading to him insisting that this show never be rerun. As it turns out, although he definitely had reason to say no to repeat residuals, he never put an embargo on the show. The most likely reason for the story is people confusing the Hour with Rayburn's next series Break the Bank, on which he did put an embargo.
Old Shame: According to Gene Wood in a 1996 phone interview, Rayburn was "dragged kicking and screaming" into the Hour. From the circulating episodes, one can see he's having... some fun doing Match, while his mood hits rock-bottom when Squares rolls around, and his lamenting the flaw in execution out loud on an episode very late in the run (see the YMMV tab) indicates it was due to the format. Other sources have said that Peter Marshall not being considered for Squares was another factor, as Rayburn had wanted to work with him and openly disliked Jon Bauman.
Troubled Production: Evidently, given how Rayburn and Wood felt about the series and Goodson's head-scratching tweaks to the Squares format.
You Look Familiar: Jon Bauman was "Bowzer" in the group Sha Na Na, and had appeared as such on Match Game in the 1970s.
What Could Have Been: Apparently, Peter Marshall was interested in hosting (ironically, his show Fantasy was replaced by this show), but Orion "blindsided" him and picked Bauman instead.