Never really liked the structure of Topcoder and similar competitions most of the "skill" is just memorizing the algorithms that show up frequently and practicing typing out the solutions fast. A great mathematician would be able to finish a math exam quicker and more accurately than a student. But someone that spends all their time practicing speedrunning math exams would smoke him, only a fool would say the speedrunner is more talented at mathematics than the mathematician that understands the material deeply and has innovated and contributed to the field.
Topcoder is kinda flawed, but competitions like the IOI and ICPC are quite legit. In addition, `tourist`is the top performer on codeforces as well as basically any competitive programming site