I wouldn't get too worked up over it. It's an award show representing a dying/dead platform in Melon.
MMAs are viewed similarly in Korea the way the Billboard Music Awards or AMAs are in America...2nd tier B-list award shows.
Except AMAs and BBMAs have been around for decades and are still a bragging right for top artists worldwide. Melon is a streaming platform for one country so its adjacent award show is more like a magazine’s “year end” list or maybe like a Webby at best.