"How far can a human launch a projectile?" is a different question from "how far can you throw a paper plane?" I'm okay with both of them being competitions, but they are meaningfully different and drive meaningfully different outcomes.
In this example there were constraints, and they were designed within. You just don't like the result.
In this instance I'd say it's funny and a bit creative, but way less creative than the other participants trying to build actual paper planes.
I think all this achieve is proving to the people who wrote the rules they made a mistake. Rules will hopefully be updated, so value is not zero, but it's not really what the spirit of the competition was about.
The only instance I admire this thinking is when the "wrong" rules are not written by humans but rather preexistent. If someone manage to find out the understanding we had of the rules was wrong and finds a quicker solution because of it, that's amazing.
Or, student wins paper airplane contest with paper rock.
Haha