On the concept of using the same script, I hate the idea for several reasons:
1) I'm too busy making my own films to spend a week or two on someone else's brainchild for a contest.
2) Anyone who has enough time on their hands to spend on someone else's script (or on competitions like " 21 days" etc.) should be making their own film, not doing contests.
3) The script has the potential to be crummy. Eye of the Beholder thing.
4) At least 50% of a good film is in the script. As an indie filmmaker, I'd rather be judged on the totality of my talent.
5) For the same reason that those "21 day" and "1 day" contests are a waste of time, everyone doing the same script is a waste of time. I don't care how long someone took to make something. I just care if it was good or not. Why? Because no one in the "Industry" cares how much money, time, or sweat you put into something. No one in the civilian, non-filmmaking world cares either..!
It ends up being insider navel gazing.
All in all, that kind of stuff is nifty collaborationist collectivistism (not to sound too harsh), but if I were in charge, I'd just make it a straight out competition with a couple of categories like "Best Short", "Best Trailer", "Best Animation", that kind of thing. I think we're all here to get noticed and get our films made, not win competitions that are geared towards something OTHER than making the best film possible, whatever its script or form.