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It's much more painful to bomb in front of a group of yours peers than it is to not win. Tons of assholes ain't winning awards, but only one guy will be bombing. So, that's much more nerve-wracking.

"Seth Rogen Talks Hosting the 2012 Spirit Awards, THE APOCALYPSE, PINEAPPLE EXPRESS 2, His Favorite Films of the Year, and More". Interview with Christina Radish, collider.com. February 15, 2012.
It's much more painful to bomb in front of a group of yours peers than it is to not win. Tons of assholes ain't winning awards, but only one guy will be bombing. So, that's much more nerve-wracking.