So I submit my value prop and call to action and SlingShot has 5 web designers compete for $1000, with the winner decided by a conversion metric? Cool concept, especially for startups following lean and running experiments. Much better spend of $1000 than some fancy website nobody goes to or converts on.

Your website is just another one of your employees - you should judge it based on how well it does its job not on how it looks. You have terrible taste anyway:) Inspired by 99 designs and crowd spring - our contests solve very specific problems related to speed, traffic, conversion, and more (based on years of learning).