Yes, any appreciation is better than none. Take me for example. I've taken part in every RooBet art contest, and I've never won a single prize. But the process of creating something which can be called "art" is so pleasant that I participate in another contest, and then in another one. Now I know from my past experience that getting any money prize is highly unlikely for me, so I'm saying to my wife "I hope to earn some merit with it, at least". And I mean it. I value merits a lot, and I feel really happy when getting them.
totally agree with Betwrong
the day I received more merits here on the forum was on the 10th anniversary art contest from Theymos himself
I joined some contests by Roobet too and it was really fun, my main motivation is not only to get merits but these are a really nice extra incentive for participants.