I watch two award shows regularly: The Tonys and The Oscars. But anything else? No, thanks. Why? I'm not involved enough to care.
I don't think (other than airing ALL the awards) anything needs to be "fixed"; some years are great, some are duds. There is just a small fraction of people in the world that see enough Bway to want to sit through a show. Most people have heard of Hamilton, certainly - but I bet 80% of them couldn't name another currently running show.
If we're not having fun, then why are we doing it?
These are DISCUSSION boards, not mutual admiration boards. Discussion only occurs when we are willing to hear what others are thinking, regardless of whether it is alignment to our own thoughts.