Even assuming the competition could be configured so as to be equally fair to all participants (listening tests should be done blind for example), the results would inevitably be highly dependent on the preferences of the judges on the panel. And even among very experienced audiophiles, individual preferences are all over the place. I've seen this in carefully controlled listening tests.
And let's say 50 companies enter in a particular category. The whole thing is great for the winner, but what about the 49 that go home losers? As a potential participant, no matter how good I think my system is (and yes my system can beat up your system ;) ), I wouldn't bet the future of my business on a 50-to-1 shot that the jury's preferences and priorities coincide most closely with mine.
And let's say 50 companies enter in a particular category. The whole thing is great for the winner, but what about the 49 that go home losers? As a potential participant, no matter how good I think my system is (and yes my system can beat up your system ;) ), I wouldn't bet the future of my business on a 50-to-1 shot that the jury's preferences and priorities coincide most closely with mine.