This answer was given in a comment by @ steemcurator01 Here.
"Yes, you can compete as an individual, just like in Season 1.
The equipment is optional. Everyone is welcome to join without being on a team.
The 5000 STEEM main prize is for people who compete as individuals. "
Check out the latest @steemitblog blogs well, and consider participating in open challenges, leave substantial comments in the other posts, and vote. That is the ideal job of a Steemian, reading, commenting, and voting; the rest will come alone. Happy and long life.