I dont think this has been done before, but I got the idea from a freestyle motocross event that they held a few years ago.
It's invite only. Say, 10 riders or so, and get some resort to sponsor it. It's a 2 or perferably 3-day event. The whole thing is rider-judged. You set up some unique features, treejibs, slopestyle course with differnt lines, transfers etc, some rail features, and lastly a few backcountry booters.
Over the course of a few days, the riders spend one day on each section. The whole thing is taped, and at the end of the day the riders all get together and watch the footage, and do the judging. Style, innovation, difficulty etc. Then the next day they go to the next part and hit it all day, and repeat. At the end of the comp they tally all the points, and decide who was the best over-all.
I'm not sure what( if any) the prizes would be. I just think the idea of a rider-judged event would be awesome, and then participants wouldn't have to worry about what the "judges are looking for" and just throw down what THEY think is sick.
I know everyone would want to watch it, so I think that it would make a killer video, i know i'd buy it. It would be totally different from any other ski vid out there...