Is there even a chance of catching up in this contest?

I was just wondering how people on here felt about this competition? Its been open for several months now  so a lot of people are way, way ahead of the rest of us, I love blogging so I'll continue regardless of the competition but I think theres a lot of false hope out there if new or recent bloggers think they've got a chance. I read a thing about last years winner and if I'm not mistaken it said he only had like forty some blogs, well I have nearly that now and I've been doing for less then a month, some people have 3 times the number of blogs I do at the moment. It looks like if they were going to let people sign up for this thing months after it started they would have to make some kind of allowance so that new bloggers had a fighting chance, what do you all think?