I have always enjoyed movies and TV shows and I have watched many of both. But I'm no more or less likely to watch one of either if it has or hasn't won academy awards. They are a nuisance. They help some stars gain more fame while leaving some equally talented actors in the dust....
With the internet and alternative medias, there is way more democratization of music, film, and media nowadays. Nobody really cares what the Academy says about all those long, drawn out categories. The best thing about the awards is the entertainment and comedic value, but even then, nobody cares who actually wins. Everyone just wants to know what people are wearing.
The Academy Awards have lost appeal over the years because the voting participants have kept closed minds, sticking only to a few genres for their nominees. A prime example of this is the way animation continues to be treated - despite animated films by Pixar often being among the best received films of the year and nearly never even being nominated for Best Picture in favor of mediocre historic films.
For many movie lovers out there the day of the Academy Awards is a sort of movie Super Bowl Sunday. It is a time to look back at all the wonderful movies you've seen the previous year and maybe discover a few you missed. You can put forth your own votes for who and what movie is most deserving of that year's award. Ultimately, it is a day when you can tune-in and share time with others who enjoy the same thing you do, great films.