The oscars were created by Hollywood so that workers wouldn't form trade unions and demand more money (which happened anyway) they only really nominate and award people to make them feel like the business is important (a dog was almost nominated for best actor in 1927) pointless In my opinion.
The Oscar awards are less about the performances of the film makers and more about the marketing agenda of Hollywood executives. There have been many times when I've personally felt that the winner of the best picture winner wasn't the best picture, or even a good picture. Sometimes deserving films are acknowledged but usually it comes down to marketing savvy.
Yes, I think the Oscar awards are very overrated. There are so many new movies coming out every year that deserve praise and don't receive it. I think the Oscar Awards have become a habit, but don't have any real value anymore. The whole reason for the Oscars now seems to be focused on what everyone's wearing and who they're with. They have lost their original purpose.
Yes, the Oscar awards are overrated, because anymore the movies are not all that special. Anyone can take a video of themselves and put it out there for others to see. The Oscars are the people in the movies sitting there and giving each other awards for being so spectacular. Big deal.
I believe the Oscar Awards are overrated. As a person who watches the majority of American films, I am not interested in the Oscars much. I think they are more for the actors, not for the audience who watches. It could be attributed to a banquet for the stars. They're mildly interesting to onlookers, but they mean the world to those who participate.