toddles and beauty pageants

Ladies my daughter step mother is pushing for my daughter to start beauty pageants and I hate to say it but in my opinion I don't agree with 3 year olds being in pageants. Maybe I'm being over protective but to me if the child doesn't win it tells them they aren't good enough. So ladies the question is how do you feel about toddlers in beauty pageants? And would you let your child do them?