I would like to see that dropped too, I think you will encourage more entrants if you drop it to say a year or 2014. Of course it's hard to tell as this is the first one but I see it tailing off again with such strict deadlines.
Life get's in the way, I'd have entered something without such a deadline, just for fun but with doing a monthly theme for my photography group life get's in the way of another
The whole point of the competition is to get people out taking photos. If you drop that rule then people can just submit old photos for years to come, and recycle photos every time there's a suiable theme.