Fueled by online discussion via blogs, a coalition within the nonfiction and film festval community is launching a new outlet to celebrate the best documentary films of the year.
It's unclear to me as yet how the documentary community at large benefits from this but I wouldn't say that docs are an overcelebrated art form, so the more the merrier. I'm sure there will be some discussion over at the D-Word.
Update: After reading AJ Schnack's entry on the rationale and purpose for the new awards, I have to say that it sounds like they fill a clear and present need to honor filmmakers whose work is going otherwise unrecognized (except, of course, at film festivals, which form the central basis for the nominations themselve). I'm looking forward to seeing how these awards develop.