Every coding competition I’ve participated in required correctness as a first criteria for basic acceptance, and then speed as a secondary scoring criteria.
>>bawolf+Y4
For Advent of Code, you lose a minute of time for every wrong answer.
Also in most how-to-leaderboard guides it's heavily noted that making mistakes (ie. bugs) is going to cost you the most times (anecdotally, I'd agree with this). Those who leaderboard have to write bug free code.
>>Tehdas+9b
And just as a reference the difference between two performers is usually between 1 and 15s so one minute is a lot. On current days, if you are fast 1 minute may still get you leaderboard as the delta between number 1 and 100 is 10 min for day 1 it was 34s.