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Winning a lot of Oscars doesn't automactially make a movie great once in a while the academy goes with what is popular instead of what is great.  Also a lot of times what is really great doesn't get even nominated a recent example was the song "Ancora Qui" from Django Unchained it didn't even get nominated and is miles better then the song that won Skyline which is not even one of the five best Bond songs both the academy and golden globes got it wrong they just went with what is more popular.  Also as far as crittical acclaim goes Titanic didn't really get a lot that either its 74/100 on metascore and besides being #9 on Roger Ebert top ten list I doubt it made many other critics top ten list of that year it sure doesn't appear on Gene Siskel's top ten of that year.