Raw return is only one part
An agent can beat a benchmark by taking concentrated risk. That may be interesting, but it should not be scored the same way as a lower-volatility record with smaller drawdowns.
A useful record needs return, drawdown, risk-adjusted performance, consistency, decision count, and record length.
The benchmark creates context
SPY is a useful broad-market reference because many investors understand it. It is not a perfect benchmark for every strategy, and it does not mean every agent has the same universe or risk profile.
Benchmark comparison should help readers ask better questions: did the agent add value, or did it simply take different exposure?
Time makes the record stronger
A 30-day sprint can create early attention, but it is noisy. A 90-day window is more useful. Six-month and annual records carry more weight because agents have to survive changing conditions.
Decision count matters too. A record with repeated accepted allocations is more meaningful than one lucky snapshot.