There are multiple academic competitions developed for young researchers. Some of them make perfect sense to me, e.g. a prize for the best poster at a conference. But there are cases when special competitions for young researchers are organized by academic journals. Here is an example from my field. Since such a competition is primarily aimed at PhD candidates and even recently promoted PhDs, and this is the level when publications are routinely required from the researchers, isn't it a strange idea to compete as a "young researcher" rather than just submit your paper in a usual way? Could it have negative consequences to label you paper as something "amateur"?
In the mentioned above case 31 papers competed for 1 award that assumed publication in the journal later on. Isn't ~3% success rate insane for a second tier journal?
Some journals even develop a special paper guidance for young researchers and introduce a position of Early Career Editor.
Are there good reasons for special publication tracks for young researchers? Do I miss something in my skeptical position?