There's a lot of myths surrounding the movie biz. And while I think movies are often pretty lowbrow and crummy, the truth is that things aren't really degenerating. The first famous movie ever made was DW Griffith's Birth of a Nation, an epic celebrating the Klu Klux Klan. There are, it seems as always, good and bad movies out there right now.
I too felt a pang when Polanski won, and I'm an enormous fan. He understands darkness and psychological trauma better than most filmmakers out there, and his films have helped me heal in many ways - particularly Chinatown, a beautiful film that delves into the pain of incest and childhood sexual abuse. But I had a girlfriend who lived with Polanski for a year - when she was thirteen! She said it was hell and that he was beyond sadistic and depraved.
But maybe we should cut him some slack. I think he's a sick, tortured soul who has found an artform to honestly express himself, and like the shrinks who consult Perps, he deserves a voice as well. An Academy Award? Who knows. One beneficial result of his win is the massive press blitz about his past that hit the news, including an interview with his victim who never would have seen airtime had it not been for his nomination.
Food for thought.