To my (untrained) eye, it seems that Codeforces servers are unable to handle the traffic that comes with a regular Codeforces round. If this is indeed so, a possible solution to alleviate the server load would be to simply limit the number of participants in any given contest: only allowing a fixed number of people to register for the contest — first come, first serve. A limited-access contest is better than "no" contest at all.
Should Codeforces do this? Discuss.
(of course if the issues originate elsewhere then don't mind this)
How would you deal with fake accounts taking some of those positions?