Mmm I'm sure it's just the significance it has within the elites views.
But all conspiracy aside I like the red carpet. I've seen purple and magenta carpet sometimes.
It's caused me not to take any of their events seriously if the carpet wasn't red for some reason.
then again most awards shows these days are trash and don't mean anything.
Only the past and the legends who have held the awards add meaning to a truly useless award now. (oscars, grammies etc),