The ridiculous rules of the Triwizard Tournament
There doesn't even seem to be a point to the first two trials, if the winner is the one who gets the goblet in the third trial anyway. But let us assume the three trials are of equal worth: It is still ridiculous, because:
1. The first trial only has a binary premise: Did you get the egg, yes or no? They do not compete at the same time, nor does time seem to be an issue. So if you got the egg, great: one point. If not, well... no points. But would you then be out of the tournament? The egg contains a clue, after all. Which brings me to the second point:
2. They were given a certain time to figure out the clue of the egg. What if none of the contestants could do it in time? What if only one of them could? Would they still build the pavilions in the sea and gather all of Hogwarts there, even if there was one contestant who hadn't figured it out yet? Wouldn't he be able to know where to go the same way the spectators would know? Harry had to have help from Cedric, and Cedric had to have help himself.
3. Assuming everyone figured out the clue of the egg, the second trial is the only one where you have graded victory conditions. First to finish gets first place, second gets second place etc. One assumes that second place is better than third place (or the judges' decision to elevate Harry from third to second place would make no sense), but there'd be no point to that given that no other trials are like this. Also, Fleur did not finish, yet she was not kicked out of the tournament - she participated with the others for the third trial, meaning she would have to have a chance of winning. This being the case, wouldn't any competing wizard with half a brain simply not bother with the second trial? They were all equal for points after the first trial, and if the third trial is the deciding one regardless of outcome of the second trial, what's the point of doing the second trial at all?
4. The third trial can only have one winner, with everyone else equally losing - there is no silver medal for finishing second. There is the possibility of the unlikely outcome we saw in the movie where Harry and Cedric both grabbed the goblet at once. Nevermind the fact that Harry had signalled his own exit after shooting red sparks in the air. He did it on behalf of Fleur, but if one is allowed to send sparks on behalf of other contestants, that opens up a whole big grey area in which you can actively sabotage for the others, in quite a silly way.
In short, a contest involving multiple trials only makes sense if each trial counts equally. The Triwizard Tournament had trials which were not very well thought through. It was, in fact, ridiculous. Mind you, I base this on the film - I hope it's not as silly in the book.