that's apples to oranges, though. On the site you're talking about (which is really crappy - it took them 8 months to send out my prize money/shirts) - the voters ARE the consumers. So even if it is a popularity contest, it still works out because those votes still translate to sales for the site. On LT, the only consumer is the one buying the logo.
that said - it's not really helpful to anyone to have a voting element, because those voting aren't necessarily the target market for the logo buyer. It's fantastic when a logo buyer can choose a brilliantly designed logo, but that's not always the answer...some markets require "ugly".