Quantopian currently defines a scoring system based on a set of metrics and requirements. Next, algo writers optimize their code to maximize their score based on this criteria. The goal is that Q will "guide" the algo creators into creating a return stream that matches what Q's investors desire.
What if a second layer, a meta layer, was added to the contest? The community would submit custom scoring systems that rank the submitted algorithms. Then these meta systems would paper trade the top 10% (or similar) of algos, during the same contest period that the existing contest uses. Then the meta portfolio with the highest return at the end of the contest would win the meta contest.
Would this be helpful? The positives are that the community can unleash our creativity in another avenue, and perhaps the best will rise to the top. The downsides are that the return streams may not match what Q is looking for (i.e. low volatility).