iF Design Awards (Hannover, Germany)

Anybody know about these awards? Are they really the “Oscars of design” and what does that mean? I can’t seem to get any information about them from people other than the organizers.

www.ifdesign.de

IF Design awards sucks!!! 2 years ago one guy won the 1st and 2nd prize and the only thing that he made was a stupid hole on the ground for a broom