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In the principle I find the idea very good.
However, I believe create a competition is not the task from xoops.org. For competitions we can publish special sites with special situations.
I believe that many beginners and users without knowledges (there are a lot!) may lose her courage to compile their own themes or modules in the future and this is exactly that what I see as the task of Xoops.
Why not build up a "Theme Dev Forge"?
This is only an idea. I gladly place at disposal my cooperation for a new "Themes-Page".