Hollywood is a industry town. They don't build cars or make widgets, they make movies. And it is town based on movies - not just on movie stars, it supports carpenters, electricians, caterers, hair stylists, seamstresses, set designers, animators, middle managers, accounting departments, directors, and yes studio heads. The Academy Awards is the big convention of the year. Everybody shows up for one of the different events. It's not very different from other industries. You have to talk up your products, some are promoting what they did, other are there to keep current and look to make business contacts. Networking, looking for work, and slinging the bull by the bar. Is it any different from anything you've gone to?
It is just a big business convention, one that brought in $130 million for LA, the parties are like those hospitality suites, the awards show, the key note address recognition to those who has outstanding performance, the outstanding salesman of the year award, remember who they lost in the past and its a little YEAH US convention - to make them all feel better and boost morale for the next year.
And before all the brouhaha about walking into a party together. How more business can you get. But seriously - why do you want to put yourself through that cause you know he's gonna look better than you. I mean he was born to be in a tux. The best dress next to that could look like Mrs Ropers Muu Muu. Someone said carpooling I say Bingo. Annnnd who was the one who had to do the red carpet? The one who's movie is opening in 3 weeks. ABC people - ABC. Always Be Closing. You got to get some projects set up for next year cause you have nothing on the planner.
Now look around at the award crowd, how many of them are doing the same damn thing, and some of them even worse, those who stood up front married and with kids, and it's all a cover. Is there outrage over Franco bringing a date? Or comments about Pattinson or Hirsch not? That the host has as many rumors or that one of the biggest box office makers who presented last night has more?

Last night was a business convention that the public gets to watch. It's up to you if you get sucked into the spin of it or not. Will you buy this year's product?
What it should be about is not who walked with who, or where they walked, or dresses, or jewelry. It should be about the movies, the story - the performances on screen.
Congratulations to Heath's family and Matilda that have the recognition of his accomplishments of his career. Congratulations to Milk for breaking down more walls, and to the cast and crew who showed support of equality with the White Knot. To Sean and Kate, for roles, and performances that showed their talents as the consumate actors they are. Congratulations to Slumdog Millionaire for a story that captured so many. And congrats to Buttons - who received the awards they excelled at.