One obvious con of banning all beauty pageants would be the lack of exposure for the corporations and organizations that link themselves to beauty pageants. The corporate sponsorship, or lack of it, would be a negative in banning beauty pageants. Another one would be more psychological. Some people truly receive a sense of personal affirmation in being judged in a positive way through beauty pageants and other similar competitions. This would be lost if beauty pageants are banned.
Being one who is supportive of banning beauty pageants, I see more positives. I think that there is something fundamentally wrong in the judgment of "beauty" on the scale of a beauty pageant. I think being able to remove one realm where judgment of beauty is so externally based is a positive. If we are extending this to child beauty pageants, I think that the protection of a child's being is one element that is extremely important and something I would consider a positive in banning beauty pageant. The notion of physical beauty being so important in children's beauty pageants seems to be wrong on so many levels. A film that speaks to this extremely well is Little Miss Sunshine. I see that being able to move children away from a stage and setting that is so adult in nature and seems to bring out some very unsettling elements in children would be an advantage in banning beauty. Certainly, competition is not a bad thing. Musical competitions, artistic competitions, oratorical competitions, and athletic competitions are but a few ways in which people can demonstrate their capacity for greatness in an arena where we see hopeful affirmations of individual contributions and character. Yet, I think that the notion of "judging" based on beauty is not a message that society should be validating and banning beauty pageants is one step in making this so.