The reason people have taken to posting their stories up in here is two-fold;
1. It usually takes at least a few weeks for their entry to go up on the main site but, like any other writer, they're anxious to get feedback ASAP. Every new day waiting for it to go up and be ranked is like Chinese water torture.
2. People don't trust the literary contest anymore, so although they may send in their entries they might also choose to start a thread in here asking for feedback which consists of more than 'OMFG LOL!' ( I feel I've been pretty lucky in this respect, not one spam so far in my comments section, but best not to tempt fate ) and gives them more an indication of whether their story is good or not than the hilariously abused rating system.
"I love being a writer. What I can't stand is the paperwork."
Thanks for the replies guys, I've been writing a story obviously - I think this contest is great actually, lets people bring out their creative side and actually be part of the game. I'll actually post my story here also, I think that would be a good idea in some ways.