Should I participate in hackathons as a learning opportunity?

Been coding for about a year now. Comfortable with JavaScript/React but still feel like a beginner compared to others.

My mentor suggested participating in hackathons to accelerate learning, even if I don't expect to win. Says building under pressure teaches you more than tutorials.

Found WCHL 2025 - $300K prize pool on Internet Computer. It seems intimidating, but maybe it's good for learning? Teams of 2+ so I wouldn't be alone.

For those who've done hackathons - worth it for skill development? Or should I wait until I'm more experienced?

Also, any tips on team formation for someone relatively new?