Yep. OpenBSD practically invented the concept of a hackathon as a way of bringing together their distributed developer base to work together on OpenBSD in a convivial atmosphere.
Then entryist tech companies co-opted the concept to get programmers to work for free on their platforms, and in some cases to even pay money (in the form of an entry or registration fee) for the privilege of doing so.
Sure, they provide pizza and dangle some prizes in front of the participants, but the judging is seldom objective, and the winners are all too often connected in some way to the event sponsor.