I don't like the in-game awards system much either. I can't put my finger on it, but the system in SHCE seemed to make more sense to me.
Another unfortunate element of the game is that no credit is given for damadged ships. I consider this a major blunder. If you are playing at high realism with a S-class and encounter, say a battleship, what do you do? You have no real chance of sinking it. Do you forget about it? Fire at it anyway and "waste" torpedos? This makes no sense.