However, the return if you win is way more than what it usually worths, so putting that time for either more than what it worths or nothing is a type of gambling you are doing so to speak and should be considered relevant to the business.
As an artist you feel happy if you work is considered by the team giving you rewards for the same but definitely I would say the quality of artworks has really gone up in all those years with this new category based contest from past few one's is really helping to gather more talented people among us.So winning is separate part but we should be creative and put our best efforts.
The trick is that the quality has gone up for the ones who participate however the quantity dropped when you look at each category, and that means something. If you have less than 10 people applying for one category, your odds goes to %30 to win, to be in the first three, and I believe that is a good chance. Doesn't mean that you are going to win, most people still lose, but at least you would have a bigger chance to win and that matters.
I think the best thing to do in this case would be just applying with whatever, doesn't matter if it's high quality or low quality, if you can participate in ALL of them, then it means that you are going to have a bigger chance to win something than anyone else for sure. I personally will try in the future.