I was reading a discussion in the Wall Street Journal (several pages worth) about Dylan being awarded the Nobel Prize for Literature. In it mention was made of
Rabindranath Tagore the man who was awarded the prize in 1913. He is one of the Nobel winners that I have read and unlike many of the winners in the early days I would say he was Nobel worth. He was awarded the prize for his poetry, but the WSJ article made the point that he was primarily a musician and oral story teller.
Regarding the worth of the Nobel prizes, and other prizes for writing. Yes, generally just the opinion of a small group. Yes it can be politically motivated or motivated by other factors not clearly related to literary merit. But I think that such awards do serve to draw attention to books that more often than not do deserve such attention. Before I embarked on my project to read something by every Nobel winner
Tomas Tranströmer was brought to my attention because he won the Nobel. In my opinion well deserved, he wrote fantastic stuff.
Awards based on popular opinion seem to me to mean less than when a more select panel makes the choice. I don't read Sci-Fi but could hardly help but read something about the recent history of the top awards for that genre. Sick puppies? Rabid puppies?