Yes, the lament about ratings being down because there were no "blockbuster" ($100m+) nominees is laughable.
"The Passion" was THE blockbuster and the judges ignored it, so "The Passion"'s audience ignored the Oscars and awaits its re-release.
Seems fair and balanced to me.
That about sums it up.
I would have watched for only reason, that reason was dismissed by the Academy. I have no other reason to watch these people.
I note they fail to mention why the Oscars were so low in 2003. I seem to recall the celebrities were at the height of their obnoxious best bashing Bush and the war and the country turned on them.