More Best Picture Nominees: Dilution of the Oscars?

"There's a lot of great movies that have won the Academy Award, and a lot of great movies that haven't. You just do the best you can." -- Clint Eastwood

The Academy Awards will expand the Best Picture category to include ten nominees. Is this a good thing, providing more worthy films with the opportunity to compete for the highest honor in cinema, or is this a bad thing, making the eventual winner an unworthy choice having split the vote in a ten-way race?

I don't have the answer, I'm just raising the questions. Discuss.