i'd think it has to be somewhat good ;] nahh i think being good is one thing. there are many elements to a good video. you can be the best flourisher in the world and have a really crappy editing job done on your video, and lose the contest. therefore, being good is one thing, but don't just focus everything on that; put effort in the other aspects, like the editing and the overall feeling it gives you.
regards,
remy