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Some of the problems I see with SIGGRAPH:

- the core of computer graphics has diversified into image processing,
  physics based simulation, and 10-15 other topics quite far off original CG
- the A researchers in CG that are supposed to review other peoples
  work have no or little competence in the diversity of areas that
  show up at SIGGRAPH, which results in really low quality at the end
  of the day
- computer graphics researchers tend to grab results from other areas,
  making methods into their own, producing beautiful images that sell
  the work to the reviewers. Original scientific content in these papers
  is often very close to zero but is often rated higher than work with
  magnitudes higher quality and novelty. Often CG researchers even neglect
  to cite original papers in other areas, since they can always claim that
  they discovered the method independently, and in any case none can hold
  this against them. On the other hand, if you actively neglect citing a
  CG paper due to its low quality and total lack of novely, the reviewers
  point out that this crap paper should be used as original reference,
  rather than the seminal original papers you indeed have cited. This
  is absolutely rediculous, and shows how introvert CG is.
- computer graphics is using imagery and movies as empiric evidence for
  scientific results, but in practice these images and movies are full
  of hidden parameters and all kinds of weird manipulation, entirely made
  to over-sell the novelty of whatever crap is presented in the paper.
  Obviously computer graphics in general, and SIGGRAPH in particular,
  do not follow the same rules as other areas of science in this sense.
  Synergies between e.g. numerical methods, physics, mathematics, chemistry
  etc are great in many other cases, but computer graphics is special since
  it delivers nothing at all back. N.B. Visualization is NOT computer
  graphics in this context.

Nevertheless, CG is a very inspiring and exciting area and it has tremendous potential in inspiring great research not only in computer graphics but also in areas that apply themselves in computer graphics.
Unfortunately, the leadership and culture of the CG associations counteracts this potential. This is irresponsible, and also quite sad.
It will and should result in a catastrophe for computer graphics as an academic research area, and removal of grants from the tax driven funding agencies.