I remember it well. It was in fact created by Spiellberg. The man was probably at his box office peak at the time and was able to get an unprecedented guaranteed two seasons out of the show. The pitch was a show that focused on a different story, with different characters, every week.
Expectations were huge, but it never had the audience that the network had hoped for. I believe that premiere did really well, but there was a huge Dr0p-off for subsequent episodes. TV audiences of the 80s didn't take to the format as an earlier generation had taken to similar shows like Twilight Zone and Alfred Hitchcock presents. Of course it didn't help that the shows themselves were wildly inconsistent (quality wise) from week to week.
Strangely, the only episode I remember with any specificity was one concerning a possessed toupee that attacked people.
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I'm hiding out in the big city blinking
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