Indeed awards shows are drawing fewer and fewer eyeballs in general. The comedy has become completely stale — anyone can see better, more provocative material on any of the night shows.
The performances, to the extent that they ever were a selling point, can be easily youtubed about 30 minutes after the show is over, if not earlier.
TV viewership in general is in decline. The award shows are just particularly uninteresting when you're talking about things you have to see live in order to appreciate.
As for the Oscars, just don't watch them. Not because of the politics, I mean, if you want that to be your reason, fine, but because they're fake.
It is a group of actors, producers and directors giving awards to themselves, and the awards are not decided by objective criteria, but by who campaigns the best among the academy's closed membership.
Even the Academy itself is totally fake — they don't teach anything, they barely contribute to the art of film-making all on their own and they exclude independent film-making.
I haven't watched for four years now.