You really wouldn't want to compete in paid game jams. It'd just be gamed by pros, who would cheat to win. It also ruins any chance of making truly creative, imaginative or interesting projects, as most people will opt for a safe bet. Just look at the state of the AAA industry.
Paid game jams are definitely not a great way to earn money, even if you're really good. I mean, look at some of the games that got submitted to this unpaid jam by single person teams - if there's actual money on the line, you're gonna see stuff on the level of Tears of the Kingdom getting submitted by trained professionals (even discounting the possibility of cheating). I love free jams because there really isn't any competition. I don't begrudge the games in "first place" because we're all just out here making games!