You would know better, but I think the Part 2 in the title is something academy voters are averse to. The third will be a contender if they keep 3 out of the title.
My take is that the movie is very well made as a package, but that's a result of everyone involved. Villeneuve is just the art director, his movies usually are rather plotholed and thin but gorgeous to look at. Hence the snub.
Genuinely shocked that Villeneuve was snubbed. And Zimmer too, though I understand there's some controversy over whether the score qualifies as "original" or whether it's too much of a second part to the first movie's score. Still... What.
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Edward Berger’s last two films have received 17 combined Oscar nominations, but zero for Best Director.
Don't bite my head off, it's just an opinion 😅