Solid, no it's not. It's $500 as can be seen on the contest main page. I think you misread something on the site?
https://99designs.com/logo-design/contests/monero-mro-cryptocurrency-logo-design-contest-382486
Weird, when i'm logged in, there's a big yellow button in the top right that says $300 and if you hover your mouse over it says "The winner will receive a $300 prize"
However if I look at it logged out it says $499 Silver package.
Sounds to me like 99designs takes $200 of the prize money? If that is the case I think we can all agree that is the REAL greed right there
Ah, they do a good job hiding that from even the contest buyers. Take the MRO, in that case.