There is tons of stuff that goes on for these Oscars...most of it is politics.
Such as the Matrix vs. Star Wars: The Phantom Menace for special effects.
When deliberating which one will have more an effect, innovation, and change on the movie industry and how they will do things...the Phantom Menace was seen to actually have a stronger effect than the Matrix roll around scene. More movies since have incorporated Computerized graphics into every nook and cranny...
Whilst the Matrix special effect, though innovative and new, has only been used a few times, and many of those were in copying what was done in that Matrix scene to begin with.
BUT Lucas was seen as snubbing his nose at hollywood, hence...the politics.
Titanic made a bucket load of money. It now can be bought at discount. Was it the best movie? Probably not, but the academy is only human, and as the hype went, so did they.
This is why it's good to release movies you want for Oscars at a certain time of the year...it is good for the influence.
Except for rare occasions...the Oscars are ALL Hollywood politics.
I was hoping Charlize Theron would win one this time round however...
She looks totally different in the role she played...and I for one wouldn't have recognized her if I hadn't been told.