What is so great about winning an Academy Award.?

The Oscar award doesn't seem to be an award that recognises talents from movie industries around the world. They are very close minded with whom they give the awards. Basically they give awards only to a Hollywood movie and English movies(including UK movies supported by hollywood) with the exception of one foreign movie. They don't consider a French movie, Bollywood movie, Italian Movie and so on as equal for the best actor, best actress, music and so on. How can this be a great award as they don't consider all language movies as equal when comparing and giving the award. In 2008, they gave the Oscar to the movie Slumdog Millionaire which shows India as a nasty place containing rowdies and s while there are many beautiful places and beautiful people living there. Every country has nasty rowdies and s including America and I have never seen a movie showing America as a nasty place to live. They could have given an Oscar to the Bollywood movie Swades (a movie million times better in every aspect than slumdog millionaire) which shows patriotism and the bright viewpoint of India.