Apparently, there hasn't been one like it since 2004, but now Scott of plaintxt.org is holding a "Sandbox design competition" (Sandbox being the name of the Wordpress theme that it'll all be based around)
Sandbox is, as you'll see if you read the about section, a highly semantic theme for wordpress, dynamically generating a wealth of useful variations and classes, and effectively puts an unprecidented level of visual control into the CSS. Unprecidented vs. your normal Wordpress theme, that is. 24,000 possible class selectors, apparently. Not that you'd use that many, I hope.
The competition runs until July 29th, with judgements made on the 6th August (when all of the entries will be released)
I'm gonna do my best to enter this one, and even if I don't, the theme sounds like a promising new base for a redesign...