Why Didn't "Dreamgirls" Get A Best Picture Nod?

The NYTimes goes on and on. It just didn't. As Bill Condon the director says, "You are not entitled. It's a gift. That sense that you deserve it is whacky." So is the implication that the studio got cocky or botched the campaign. They got eight nominations, so clearly the movie had a fair shot. It just didn't happen.