I agree with you on BP. 90%+ of the time there can be a legitimate debate about BP. Your own quote from Jaws is a great example. I like it better than the winner that year, OFOTCCN, but The Wizard of Oz lost too. Sometimes great films lose to other great films.
But Shakespeare in Love? In that...
I don't totally disagree with you, but the Academy appears to be more about promotion of the industry than recognition of artistic achievement. Your quote from Jaws is ironic given what happened to Mr. Spielberg when Mr. Weinstein out promoted him and won the best picture award.
In fairness...