I've always sided with Feynman on this, and this proves him right: wtf do these people think they are appointing themselves fit to hand out trinkets and baubles on behalf of global scientific achievement? It brings the award into disrepute, or at least in a Feynman way, exposes the inherent disreputability of awards themselves: who are they to award such a prize on behalf of physics? Awards committees: self-serving s…
Laypeople needs a simple way to know who's who in advanced research fields, without Nobel prices (or any other commitee) we don't get to have that.
If people gets to ignore (more) such topics, it's likely politicians, and universities react accordingly, and funnel funds to other enterprises.
All these prices (I'd say writing prices are much worse) are typically super corrupt, but at least keep the field in people minds.