I think there's a certain assumption that goes with the name of the award.
Nobel peace price
I'll wager most don't even look up the particulars (I know I don't, and could hardly care), and only run with the general assumption that it is a prestigious international recognition for humanitarian work of legendary proportions. When your average joe thinks of the Nobel Peace prize, they think Martin Luther King, or Mother Teresa. Names like Obama are nowhere near this league, so it cheapens the perception of what the award is about. So, Obama, Putin? Sure whatever, why not.
In military terms, it's like getting awarded a purple heart of sitting on your cot with a finger up your nose, when an explosion went off somewhere else on the base, and you just happen to get a tiny sliver of steel stuck in your ass (literally), so the powers that be in charge, decided to give the award even though the recipient was nowhere near any real combat. (I've seen that happen actually)
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