I've determined for myself that the winners are predetermined and the prize isn't worth the time if you're going to participate honestly.
The Honeyfeed contests might be a waste of time as well, but I still feel dimming hope that they may actually open something for me if I perform well enough.
Anyway, it is just a symptom of a sad cycle where author must provide more and more first before they receive. Though, can understand the readers as to why they want finished products.
I'll admit the idea came to me once while scrolling through RR as well. "What's stopping people from just stockpiling a story until a writeathlon comes along?" Nothing, really.
I always thought it kinda defeated the purpose of one.
The Honeyfeed contests might be a waste of time as well, but I still feel dimming hope that they may actually open something for me if I perform well enough.