There are a lot of competitions these days. Makes you wonder if the world needs so many!
Sorry, I can't really comment much on the kind of competitions you are talking about, because I have only ever been in one competition and that was 1 1/2 years ago - an adult amateur competition. I went in not to win (I knew there was no chance) but just as a personal challenge to myself and also to hang around with other piano geeks like me for a few days. I believe I paid $175 to enter and feel that I got my money's worth. I did make new friends and I proved to myself that I could do it and not pass out from being too nervous (it was close, though....

).