The only value I see in them is getting to hone your skills. Knowing that you may not win, one needs to look at it from the point of view that it’s “design practice.” I guess you could also look at it as portfolio pieces.
On a whole other topic, it’s kinda like these freelance sites where people post things they need done. If you look at their price range, they’d be better off going to these forums and holding a “contest.”
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