I've never used them as a measure of anything for TV shows as places like this sub has me covered and have read it daily for I don't know how long, over a decade? but I used to use the Oscars as a prompt to try some movies. I don't watch many movies so I assumed the Oscar nominees were the creme de la creme, reality was that although some would be really good most were clearly just made with the Oscars in mind.

I see the whole awards scene as them all just patting each other in the back, it has little to do with us the viewers.