From the nominees, the worst picture:
Nominations: Chocolat, Crouching Tiger, Erin Brockovich, Hidden Dragon, Gladiator*, Traffic
Nominations: A Beautiful Mind*, In the Bedroom, Gosford Park, The Lord of the Rings: The Fellowship of the Rings, Moulin Rouge!
Nominations: Chicago*, Gangs of New York, The Hours, The Lord of the Rings: The Two Towers, The Pianist
Nominations: The Lord of the Rings: The Return of the King*, Lost in Translation, Master and Commander, Mystic River, Seabiscuit
Nominations: The Aviator, Finding Neverland, Million Dollar Baby*, Ray, Sideways
Nominations: Brokeback Mountain, Capote, Crash*, Good Night and Good Luck, Munich
Nominations: Babel, The Departed*, Letters to Iwo Jima, Little Miss Sunshine, The Queen
Nominations: Atonement, Juno, Michael Clayton, No Country for Old Men*, There Will Be Blood,
Winners with *
2000: admittedly Crouching Tiger has aged the poorest.
2002: argument could be made for Chicago, but Two Towers was the worst of the trilogy and it would be unfair to tag the other two and not this one. Gangs of New York was robbed.
2003: I haven’t seen Seabiscuit, but my wife tells me that it was sappy, though well made. Lost in Translation was robbed.
2007: There Will Be Blood was robbed.