Same can be said of Oscars too.
Marvel/DC movies make literal boatloads of money on their movies, and not one of them get even a mention.
But an unheard of, unseen movie? Best Picture. Even if it's not good and it's completely preening towards the general public.
That's why I never, and I mean never watch any awards shows. It's all fake, like Hollywood.
I won't go so far as to say "all fake", but I will say that awards shows in general are just self-inflating productions made for themselves. Time to make themselves feel more important than they really are.
Your Oscars example is perfect. My coming from the music world reminds me how the Grammys often come across as wanting to send a message more than actually award greatness.
The ONE THING I can agree with awards that are self-given: those within an industry should be better equipped to award quality and identifying quality vs volume should be done. We, the general public, often just want to be entertained. We're not looking for something groundbreaking or iconic- we just want to escape for 2 hours.