Here is a discussion I had with another skier at this weekend's Ohio State Championships...
If I go play 18 holes golf, I get to play all 18 no matter if I shoot 70 or 120.
If I run in a local 5k, I get to run all 3.1 miles no matter if I'm at a 5:30 pace or a 10:00.
If I play a tennis match, I get to play a minimum number of sets against someone ranked at my same level.
If I go to a ski tournament and fall at 1 ball, I'm done.
One of these is not like the other. Now I understand it's the "rules of the game" for skiing, and there's a bit of a breakdown in the apples-to-apples comparison, but it's binary thinking to just make this practice vs. competition - it's also about perceived value.
I hosted a cash prize tournament ($450 total) at my lake this year, using handicap scoring (BBT rules), and a "pick your partner" team format. Only 17 skiers showed up and the vast majority were the guys I ski with every week. 2 were from out of state who just happened to be passing through. On the one hand, it was nice because we started at 9 and finished at 4 with a 30 minute break for lunch. It was low-key and fun. On the other hand, it indicates there's not enough perceived value even in an alternative format.
My point is that what others have already made, it's hard to beat the value of a day at the lake with my family where I can get unlimited skiing. I'm a competitive guy, I like the tournament scene, my tournament scores generally reflect my practice scores; but I scaled my tournaments back this year and actually skied more (relative to the bad weather this spring in the midwest) than ever.
When I jump in the water for practice I know I'm going to get "full value" every time - 6, 8, maybe even 10 passes if I'm feeling good. Time on the water is the most valuable thing to a skier - not a score, not a prize, not rated officials - and a tournament can't give me either the quantity or quality time on the water.