Over the past few years, cybersecurity competitions have become increasingly relevant in educational settings, offering a practical complement to theoretical instruction. Despite their growing presence, there is still limited research on the depth of their impact within formal cybersecurity education. In this study, we explore how widely used platforms such as Hack the Box, TryHackMe, and Capture the Flag (CTF) contribute to hands-on learning, drawing on insights from interviews conducted with more than 20 students and 10 professionals working in the field. Through thematic analysis using NVIVO, we examined participants’ perspectives on how these competitions help strengthen technical proficiency, promote collaboration, and open networking pathways. Our findings suggest that initiatives like CyberPatriot and the National Collegiate Cyber Defense Competition (NCCDC) provide valuable team-based experiences and simulate real-world challenges. Nonetheless, concerns persist regarding the heavy time demands and the prevailing focus on offensive rather than defensive skill sets. While these limitations are noteworthy, incorporating such competitions more deliberately into academic programs could enhance their role in preparing students for careers in the cybersecurity industry. The study not only highlights the educational potential of these events but also points to opportunities for more inclusive and structured integration into curricula.