No.
1. I don't think it's worth the $$$. As an Am; even if I win, I don't want plastic I'm not gonna throw. Lose-lose situation on the cost/reward side.
2. Slow pace of play. I get to play two rounds? I would rather play four-six rounds in a day. I feel like I wasted a full day of disc golf standing around, waiting for other people to move.
3. Cheating. When people cheat in casual play, I don't care at all. Hell, that goes for me too, if I miss my mark, I'd never know. But in a tourney it ruins it for me.
4. Being mediocre. If I was (a lot) better, it'd be more fun to compete. Some days I just really suck and it's pointless to be out there sucking it up.
5. Additional rules. Smoking, drinking, cursing, that can be the best part of a round.
6. Edit - how could I forget bad attitude/annoying/db people on your card. Totally ruins the joy of DG.
Now, I am ALL ABOUT casual tourneys with buddies, or an ice bowl maybe, or getting to play an exclusive/unavailable course; but a sanctioned PDGA tourney on a nice day? Not for me.