In the comments at TechCrunch (also covering the MYDREAMAPP.COM contest) a few interesting points are made:
~ "Maybe I should patent an idea, then submit it, and then sue them for patent infringement."
~ "What’s interesting about this concept (MyDreamApp) is that most people don’t realize the marketing is one of the toughtest parts of the equation for most projects. In a sea of apps that don’t have the finished look, feel, and feature set, it might do very well to get 15% of a professionally developed app rather than 50 or 100% of an app you try to bring to market on your own.From that point, the winner would have some seed money to partner with others on great ideas if the winner is fortunate enough to have more than one marketable idea."
~ "Is the site going to announce which idea they will pick to develop before the development starts? If so, it will be a race to the finish because I am sure that the open source crowd will jump to beat the developers to get the product in to the wild … and for free."
Although I'm a big supporter of the "Open Source Community" ... this IS a problem. And vice versa as well. If an "Open Source" team creates a driver or application and another company tries to release something similar for profit ... you often find that the Open Source Community rips the "for profit" to shreds on blogs and techie sites like Slashdot.
I also think there will be at least ONE legal issue that will arise from this contest.
I just hope neither of these issues ruin the fun.