To answer the original question:
No, I won't do challenges. In my opinion, geocaching is about searching, finding and signing a logbook in a container. Nothing less. I don't even do earthcaches because I don't consider them being real geocaches.
Only thing I could imagine as a worthwhile challenge would be e.g. "Find soandso many caches in thisandthat area" or "Find all caches of a series" or something like that. But not tasks like "Take a photo of a specific landmark". That hasn't much to do with caching anymore.