I've always considered the Junos as a Canadian national event and the East Coast Music Awards as regional, since the Atlantic Maritimes consist of four of the smallest provinces: Nova Scotia, Prince Edward Island, New Brunswick, and Newfoundland and Labrador.
Historically, the Junos are older, dating to 1970, but Canada's East Coast has always been a major source of music, especially folk. Perhaps one is right to think of the ECMAs as self-congratulatory, but many apparently think of them more as self-promotional, especially for the folk music genre.
Here is a brief history of the ECMAs. An event this large, which started in a Halifax lounge, certainly has had something good going for it. Perhaps it's all in the atmosphere, eh? :-)