Yes I think it should be, I think there would be some interest. Considering we have some very competent and experienced people on Lesswrong and some very enthusiastic amateurs, several teams wouldn't be too bad an idea either if there where enough people. Some of the amateur LWers might be a bit intimidated by being part of the "Offical LessWrong team", whereas "Lesswrong Team #3" or "Lesswrong amateur rationalist group" dosen't sound as bad.