A lot of people out there are complaining, already. Myself, I would've voted for Good Night and Good Luck, probably before Crash, and both before Brokeback. All were movies that were very good, but somehow lacking. Brokeback was overhyped as a favorite, and this result was thoroughly predictable.
What I like about this is that now, perhaps studios with good movies won't be afraid to release them before November, for fear of killing their Oscar chances. If anything, this should be a liberating experience for Hollywood, one that allows quality films to be released the whole year round.