I think chaya13 hit the nail on the head.
All these comments that the overachievers deserve recognition for their hard work miss an important detail: The valedictorian is the one with the highest grades, not necessarily the one who worked the hardest.
Do we really want to teach our kids that the result counts and not the effort? That the kid who spent 2 hours studying for the final and got a grade of 100% is more praiseworthy than the kid who is less gifted who spent 6 hours studying and got an 85%? And how about if the “overachieving 2 hour 100%” kid is a snob who has zero middos and the “6 hour 80 percenter” has the greatest middos?
Its not about eliminating awards to make sure the lazy kid who played hooky doesn’t feel bad. Its about what priorities whe’re teaching our kids.