"The head of a large studio once said privately that in his candid opinion the motion picture business was 25 per cent honest business and the other 75 per cent pure conniving. He didn't say anything about art, although he may have heard of it. But that is the real point, isn't it?—whether these annual Awards, regardless of the grotesque ritual which accompanies them, really represent anything at all of artistic importance to the motion picture medium, anything clear and honest that remains after the lights are dimmed, the minks are put away, and the aspirin is swallowed? I don't think they do. I think they are just theater and not even good theater. As for the personal prestige that goes with winning an Oscar, it may with luck last long enough for your agent to get your contract rewritten and your price jacked up another notch. But over the years and in the hearts of men of good will? I hardly think so."
The above quote is from a long piece by Raymond Chandler that appeared in The Atlantic in 1948 and you can read it in its entirety here. Chandler was the creator of the private eye Philip Marlowe in the novels The Big Sleep and Farewell My Lovely, both of which have been turned into movies several times. He was also a screenwriter who contributed to Double Indemnity and Strangers on a Train. Chandler had an inside view of the Oscars and he hated them. In this age of Twitter, I don't know how many people will bother to read his entire article, but it is a good counterpoint to all the hype that will wash over us in the next few days.