It's an industry patting itself on the back, and operative part of that, is the word, industry.
For many people these awards mean nothing, and as for them being a recommendation, as to who to go see, or listen to, that's a Curate's Egg too.
I have seen acts I can't stand win awards, and wondered what the reaction of a neophyte would be, on going to see/hear them for the first time, based on their winning an award.
Some folk are promoted beyond their abilities, due to the backing they get from third parties, while others, who are more worthwhile, don't get a mention.
Big fish, wee pond.