I don’t think it’s Oscar worthy myself, but I do think there is some credence to the argument that movies people actually see should win Oscars.

No the Academy doesn’t award “great” movies. They award what they consider the best movie of the year, regardless as to whether it was “great” or not. There have been a lot of films to win Oscars that are not “great” movies.

Suicide Squad has an Oscar. Your argument is invalid.

Anyone who still thinks that receiving an Oscar correlates with having a good film is delusional.