Getting only the best of the best of the best with honors leads to a lot of frustration when the ultimate masters of coding have to do the basic grunt work that is 95% of real coding work.
Also having people jump through multiple hoops in their free time is also not a very compelling proposition for a lot of developers. I think it attracts certain types of people and not necessarily always the best of the best.
edit. So maybe my two arguments partly cancel eachother out :)
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IMO
Getting only the best of the best of the best with honors leads to a lot of frustration when the ultimate masters of coding have to do the basic grunt work that is 95% of real coding work.
Also having people jump through multiple hoops in their free time is also not a very compelling proposition for a lot of developers. I think it attracts certain types of people and not necessarily always the best of the best.
edit. So maybe my two arguments partly cancel eachother out :)