Was that Sports Day?

I just attended the sports day for years 1 and 2 at my son's school. It was absolutely stultifying.

The children were divided up into "teams" of 5 or 6 - all members of the team belonging to the same House. They then had to perform various activities. There was sack racing, football goal scoring, transferring water from one bucket to another, walking along a slightly raised plank, a hybrid of football/baseball (don't ask), cricketish, and other ones which we were lucky enough to miss due to time constraints.

No child was the winner, no team was the winner and no house was the winner.

I'm very confused about this, as I was told it was to avoid the stress created by losing, or the fear of losing. Now, if children are not taught at this low level to handle this kind of stress, how are they going to feel as they grow up and don't get the job, or don't get the project awarded or any of the other multitude of things that will happen to create the stress of losing or fear of losing. Are the kids supposed to sit in a bubble for the rest of their lives, or are they supposed to be in the process of being prepared to go out and DARE to take risks.
Kids need to learn HOW to compete, they need to learn how to win, how to lose and how to improve their performance so that next time they've a better chance of winning.
And for those kids whose talents lie in the sports field rather than in acadamia, well, shame on the school for discriminating against them!
OK, my rant is over. I'm now going to go and race Alex up the stairs - and when he wins, I will burst into tears.....