What is the value of competitive programming especially in the current time where LLMs can solve the majority of those problems?
A good analogy of this would be a chess player that is striving to play chess on a higher level in order to achieve the title of a chess grand master, even tho the current chess engines like Stockfish have surpassed human players.
What is the point for a person to learn chess? The point is that even at this stage, the human mind and creativity can come with novel ideas that top chess engines cannot find. Human creativity comes from deep within us and cannot be replicated by a computer.
Another analogy would be an elite athlete such as a football or a basketball player that does the same drills over and over again in order to stay sharp and be prepared for the match day, the same applies for an engineer. Competitive programming problems act as drills, in order for the engineer to have a sharp mind. In this way, the engineer will have a better chance to shine when the time comes, when a difficult problem arises, he will be prepared.
Doing competitive programming on daily bases will facilitate the engineer with a good understanding of the fundamentals.
The following quote sums it up:
"I never get bored with the basics." - Kobe Bryant