I think Finals MVP and NBA MVP are important awards that need to be recognized. From the mid 60's to the early 90's, they got almost all of those years right on. Recently with the advent of mass media and ESPN, I think they make more mistakes. Still, there isn't an MVP that isn't in the Hall if they are eligible and for good reason. I value the Finals MVP so much because those are guys that came up big when you had to and those guys tend to be the best players.
1st team All-NBA and 1st team All-Defense tend to be popularity contests except for the very multiple time winners(Rodman, Garnett, Pippen, Cooper, Moncrief, Mutombo, etc on defense Duncan, Kobe, Shaq, Jordan etc for All-NBA).
Strictly stats stuff tends to put guys like Dantley, Gervin, English, Thompson Iverson and such higher than they deserve because they played selfish ball and were lesser players because of that.
Maybe instead keep the awards points but give bonus points for finishing top 3 in each category as well as bonuses for finishing in top 10 in 3 or more categories more bonus for finishing top 10 in 5 or more categories for each year. Then more complete players become more highly ranked.