I think world cinema has just as many (if not more) classics than American cinema, yet a foreign language film
never won best picture, thats a joke.
Also, they have this trend that they give oscar some directors waaaaay after they made their best works. When the popularity of the brand of "Scorsese" started to get close to the brand of "OSCAR", they quickly threw one award to him, for Departed. Which was a great film, no doubt, but not comparable to the masters best work.
The question wasnt if Scorsese has an Oscar yet, but if Oscar has Scorsese. Watch out for Tarantino getting an Oscar for something thats not half as good or groundbreaking as Pulp Fiction.
Every now and then they get things right (this happened mostly around the 70s tho, but that year that had Black Swan was also strong. And so is this year), but overall too much politics, pretentiousness, USA-bias, and more than anything, business decisions to put any weight on the Academy Awards, in my opinion