I totally understand the concept. No, it's not going to be THE TGR movie, but in the end it's going to be compiled into a movie distributed by TGR. So one way to look at it is they are forking out 100Gs for what could be a hit on iTunes under the TGR name. Basically, TGR comes out with a sick product and one person scores big while all of the losers help make a movie but aren't compensated in any way.
I'm not ripping on TGR. I think it's a smart idea. But it would also be smart for anyone submitting edits to ask a lot of questions--namely: Does the edit become the property of TGR?