I agree. I think it really depends on expectations. If you go into the event with a desire to learn a new piece of tech or to try and experiment with a concept, then it's a great fun framework to build something with a well defined, externally set stopping point. And it's fun, esp with other smart people around.

However if you're trying to win, or worse forced to attend, then yeah that's a set up for a stressful, low value event.