Personally I don't understand the public's addiction to the Oscars. You pay a hefty price to watch the movie at your local theater and in return those attending the Oscar awards make a pretty good living from your dollar. There are plenty of excellent movies that never even get nominated for an Oscar. The Academy members may be influenced into voting for a particular movie. The Oscars are exactly what movies are, a money making venture.
Few studios produce movies for great content or ability.
They produce them to make a buck. The Oscars are another part of marketing the film. Winning an Oscar will attract more moviegoers to dish-out seven or eight bucks to see their picture, increasing studio profits by millions of dollars. If studio ad campaigns are allowed by the Academy it lessens the chances that the truly best in a category will win. At home in front of the television the public tries to pick the winners.