I've recently been watching AU Masterchef the Professionals - and it brought to mind that it would make sense for the producers over at Magic Elves, if they looked at some other cooking competitions for inspiration.
Some ideas from Masterchef that I think could make for interesting challenges:
1) Challenges where everyone has to re-invent the same dish. In the past Top Chef has given everyone a different classic - but this would be an easy way to shake up that kind of challenge.
2) Challenges involving recreating recipes. A big part of Masterchef Australia (both professionals and amateurs) has involved having to recreate recipes. Either following very complex written recipes or seeing a chef produce a dish, not be able to take any notes, and then recreate the recipe. For whatever reason, following recipes hasn't been a major feature in any US cooking competition aside from Hells Kitchen (which I would say is not that pretigious). So to a US viewing audience, this would be new.