The only logic I can think of for these looks is as follows:
Celebrities need to remain relevant and out-shine others in their over-saturated business. To succeed and have their photos printed everywhere, they wear ridiculous outfits to stand out from the crowd. Isn't their talent supposed to do that for them (reality stars aside... since we know they don't have any real talent!)?
These are costumes, not appropriate award show attire. I really hope that everyone starts dressing like this so that we can see a switch back to people adopting a more glamorous look for award shows.