I'm not gonna give you the riot act since Doug thoughtfully wrote it already but here's my .02
You took a 1 day, well a few hours worth of course actually (if it's in any way comparable to the Army's version of the MSC) and it initially sounded as though you thought that you didn't need it. Then in the course of actually learning about motorcycle safety you get caught up in a "little competition on the side" and crash.
There's an actual MSF course held in a town near you most likely every week. It costs a few hundred dollars and lasts 5 days and I can assure you there won't be an opportunity to do any "competitions on the side" and if you crash then you fail and kiss your money goodbye and get to do the walk of shame on your way out.
Seasoned riders almost always walk out of the course having learned something they never knew before. Sounds like it couldn't hurt you to take it, besides it's an insurance deduction and may teach you something that will save your life down the road.
Spend some money on the course or you may need another paint job.
I'm gonna take a wild stab in the dark here and guess that the super chicken dude didn't lay his bike down..........