I'm not defending the Academy - they definitely make some terrible choices - but I also don't quite understand being "frustrated" by them either, in the same way that I don't care if some pretentious critic puts a movie I've never seen at top of their yearly "best of" list. It's just one group of people who happen to have a big megaphone, but one that's growing increasingly smaller. That, and what's so bad about these lesser-known films getting more exposure? Isn't that more valuable to the industry and to filmmakers than people tuning in one night on network television to "celebrate" something they already "celebrated" with their wallet?
To me, Dune is the clear "best picture" of the year, absolutely deserves the award, and meets the "popular"/box office top 25 criteria. But I also understand that sci-fi epics aren't everyone's thing. That said, outside of Dune, I look at not only the nominated slate, but the entire calendar year, and I have NO IDEA what I would put in its place / what would meet any kind of "popular" criteria that's also worthy. This is such a weird year, due to the pandemic, so more than anything I'm just chalking it up to that. But I'm also in agreement that we're likely never going to have consensus favorites ever again, and I'm totally fine with that.
Come March, it sounds like Best Picture is coming down to The Way of The Dog and Don't Look Up. I quit the former after twenty minutes (and I never do that), and I wasn't a huge fan of the latter at all (but also didn't hate it either, like some do). On one had, sure, that's kind of depressing. But on the other hand, we got Dune and Spider-Man: No Way Home this year, two of the best theater-going experiences I've ever had, and whatever the Academy chooses this year, they can't take those experiences away from me. So why fret over any of this?