The Internet is now awash with so-called "literary" competitions. All operate on a similar business plan, designed to produce revenue or to serve as a promotional avenue for the publishing business and its various offshoots.
There's a new literary camp in town. Litquake and the San Francisco Writers' Grotto have joined their wonder twin powers to form Lit Camp a literary writing intensive with representatives from McSweeney's, The Believer, ZYZZYVA and The Rumpus.
Poets and Writers implies that simply by submitting to a large number of contests, a writer with a high-quality manuscript would eventually prevail. Based on my experience as a judge for some of these competitions, I'm not so sure.