As someone who hasn't been around for years, i would offer this: It's nice to be recognized for work, especially for first timers. Not being nominated would be a clear message of, "Your project didn't really look all that great with 80 different kinds of controls, and your hand cut ink-jet graphics." So i can see the value from a perspective of some who aren't on their 2nd/3rd/whatever project.
However... My project will be done this year, and although i really look forward to tagging the project post *finished*, and listen to feedback, good or bad...in reality, i'm not really thinking, "oooh, i hope i win a UCA! oh boyohboyohboyohboy!"
That being said, if the UCA's don't move forward in the same way they have in years past, thats understandable, since as others have said, this hobby has slowed down. If that's the case, might i suggest a simple end of year thread with a picture of each completed project? That way, there is some documentation of the end of year, as well as some comments posted casually about some being good or boring, etc?
Just my 2c, take it as you will.