The Academy Awards are worthwhile to watch on television because it can be difficult to stay up to date with current events in media. While a person may not be interested in Eminem or other artists, it is a topic that may come up in daily conversation, so it is beneficial to watch the Academy Awards to know what is going on in the entertainment world.
Personally, I do not watch these awards but I do regard them as some sort of reality TV. These awards cause an uproar when they come around and you see all the celebrities receiving the awards and then everyone watching critiques them and all that. It's quite entertaining really, but it's not my thing.
As it were, Hollywood is corrupt. Eminem is actually doing us a favor by suggesting, through his absence, that the Academy Awards are not worth attending. These events, where a corrupt, vile system that includes numerous instances of child abuse, paedophilia, movies and television produced that promote sin and evil in the world, chooses to honor itself, are not worth watching. They are contrary to God, and dishonoring to all who watch.
I do not believe that the Academy Awards are worth watching in their current configuration. The award show is mostly a popularity contest but could be rejuvenated in terms of viewership by being presented with comment, similar to the way that most people watch the Eurovision show contest. This could up viewership numbers.