Sounds more like this organizer rushed this competition rather than not have enough time. He should have done more research on this though I'm not going to go into this.
OT: This talk of "soul" is very vague. I mean there's Joe Satriani who can play well both slow and fast. Andy Mckee who can play both metal and sweet acoustic. Eric Mongrain and his air tap. Where as compared to Jason Becker who even Marty Friedman admitted, lacked a bit in the improvisation department (his interview in Japan on "How do you define a good guitarist"), MAB who is a speed demon virtuoso is still considered to have soul by other guitarists, Syu and Takayoshi Ohmura who for some reason, hates to slow down on the guitar. Then there are the greats like John Sykkes, Vanhalen, Slash, Kirk, Zakk Wylde, Dimebag, Buckethead and the rest on almost everybody's Guitar God list. Yet all of them are considered to have soul. A sense of melody would make this "soul" more of a practical skill rather than JUST having it.
Calling it JUST soul makes it unreachable and unavailable to every musician (which it actually isn't) and I'm guessing, as a fellow guitarist, you don't want to put down the newer generation of guitarists right (kinda the point of the competition)? I'm not dissing you or anythin' bro, I'm just saying that "soul" is relative to each person and "maybe speeding up is their way of expressing it whether it be staying in or straying from scales" (Paul Gilbert's words). Having soul which everyone likes shouldn't be what we're going for as guitarists (unless you're only in it for the money). Why else do most guitarists hate Justin Bieber, Jonas Brothers and grow tired of Canon Rock? It's views like this that make pop culture and forces others to say "You should sound like this guy because he's good". Now playing something that is in sync with another person's sense of melody COINCIDENTALLY, that's real music magic but admit it, it's all music theory, a sense of melody and originality and how it's all put together that defines a good musician. Not this other worldly voodoo.

Art isn't mysterious and shouldn't be treated as such. The artist, on the other hand, is.
We have different views so I won't be surprised if what I've typed isn't to your liking and apologize before hand if you're offended in any way.
Going back on track:
I won't join this though xD. I'm totally against music being treated like a sport and more of a way to express yourself. As with other other forms of art.
Good luck to the finalists and the judges

May your fingers be lightning, your riffs hot and your sound on fire. I hope you all wow the crowd and get flashed by some hot rocker chick's knockers.