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What Do Game Awards Mean, Really?

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No TUD for a while, so I'll reopen the raging debates. And we had one going around the tower lately about the meaning, and utility, of video game awards. I'd like your opinions on this.

We just had the 2008 VGAs, which was compelling TV only when it was hyping things coming out next year, rather than honoring the best of the art form in this one. And, of course, numerous sites and publications are doing their own best-ofs and year-enders and games of the year. Crecente mentioned in a discussion that it can risk looking like a gift guide rehash, and I agree.

So here's where you get to weigh in: Are video game awards and honors at all meaningful? Are they foregone conclusions honoring top sellers and major releases only? Can you really hand out a "game of the year" when your candidates can be as disparate as racers, fighters, shooters, RPGs, sports titles and more? On the other hand, does giving out genre-specific honors water down it down more? Does anyone even give a shit? Tell us, dammit!