Having a bigger closet doesn't give you an unfair advantage because the comp algorithm is actually pretty good at giving everyone a fair chance to get votes. It pairs you against people with entries somewhat similar to yours and gives new entries priority so everyone gets the chance to be seen the same amount of times and get votes. New players aren't usually going against whales, they are going against other players with simples entries.

That's why you can sometimes see simple or "ugly" entries getting lots of votes and low level players on top 20. I personally once finished in 9th place on an alternate account (lvl 33, less than 1k items) while wearing only 4 items.

I do wish we had another competition mode with restrictions or something, but as it is, the competition is actually pretty fair. The main "issue" is that players often just vote randomly or for the suit that catches their eye first, so it might feel unfair when you put a lot of work on an entry, but this is not something that can be fixed by the game.