Yeah. Well, in the end, I think the point of the site isn't really to win. It's nice to see what people think of your music, but I think a lot of the site's purpose is just to see what other people can make out of limited systems. It's fun and a cool way to learn new tricks you wouldn't see elsewhere.
As for the ranking of mine, well, I think it deserved it personally. It wasn't very long and i made it in about a day, there was a lot of polishing and stuff I could have done better.
I agree, though, that these are best for motivation. If we liked our music, then more power to us! We just gotta keep on creating.