Add to that, they have a life that we can only dream about.
I honestly wouldn't want to live that life. Almost all of your friendships and relationships are superficial. You have paparazzi in your face constantly. You are exposed to a lifestyle that will bring you to a quick demise (alcohol, drugs, etc.). You have to deal with nutjob fans that range from just wanting to see you to wanting to kill you. You can't go out in public without being stopped for pictures, autographs, handshakes, etc. from complete strangers.
I would hate it. I'm not sure if the amount of money they make is worth it.
I dont think it's that bad and I think the paparazzi thing is a bit exaggerated. The paparazzi dont follow around celebs who dont act like idiots because the normal ones don't sell magazines.
Regarding the Oscars - I generally dont watch the ceremonies because 1. I dont like award ceremonies, 2. I dont even like ceremonies when I get an award, 3. They dont put award ceremonies for me on TV 4. Their awards come with a lot of zeros at the end of their checks. I do however like to see the results just to see if I get my picks right.
On a separate note, it looks like a lot of people dont like actors, but how about athletes? Equally overpaid, and worthless, but give an illiterate person a ball and suddenly he's a role model.