If they allowed constant banner submission, then yeah, since they don't and believe in the efficiency of holding a two month contest with a hundred banner where they pick THREE*, I'd say keeping a giant backlog of old banners in the rotation really belittles the effort. The current weighted rotation would also mean that the old banners might as well not be there, and if there's no weighted rotation the old banner will just completely block the new ones.
* just in case people forgot how monstrous these contests are with the usual process (which we will probably be following; again)
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