They have this annual winter hat challenge around X-mas and new year. Same thing: There isn't really a point, other than you show some good representation in an agreed system, that's judging what's good or not.
I was hitting this question when I was about searching for users' opinions what's their motivation to make posts on SO (answers merely, the motivation to ask questions must be some kind of desperation for most of the cases with freshman users of SE. The probability to get a closed/downvoted question quickly is pretty high, and that's good!).
I believe the prior motivations for gaining reputation, hats, badges, etc. are
- Having fun in improving the site's quality (after finding it useful in many cases)
- Reputation and badges represent how helpful a particular user is with improving the site
- The most users want to have a good representation within the site's scoring system
Any other motivations are actively discouraged from SE's moderation rules and general consent of the communities.