Do it for yourself. Don't worry about comparing your work to others. If you make something you yourself are proud of, then what does it matter if Notch or Terry Cavanagh are participating?
I suppose you're right. I was surprised at how few people took part in the mini I did (#40 http://www.ludumdare.com/compo/?p=221661).
I wonder whether the main LD entries get more or less feedback than the minis. It seems like it could go either way. The larger volume of submissions could make it less likely that people find yours.
There's a pretty decent discovery mechanism. The more you rate, the closer you are to the front page. It's not perfect, but I don't think I've gotten less than, say, 50 people rating my games (http://www.ludumdare.com/compo/author/mscottmcbee/ If you're interested).
Rate others, leave comments, and people will play your game.
