First of all, UWC can be a good college, and it doesn't need
this Arena thing to prove itself.
I agree with you that academic excellence only serves you half way
towards success, with the other half coming from your communication
skills and logical thinking.
However, none of these abilities can be seen in the Arena. All you
do there is shout. There is weak research, poor organisation, etc.
However, as what a tv show is supposed to be, the Arena is sort of
entertaining.
Now the winners did prove themselves, but what exactly did they
prove? Ability to get into top college or a Nobel Prize as you have
suggested?