Within the industry perhaps.

This.

What

It is a sign, but certainly not the only one.
I don't think anyone really cares that much about the VMAs and some of the other lesser awards.

Absolutely. It's the musical equivalent to an Oscar. Doesn't matter how many people disagree with who wins what, it has always and will always be the highest honor a musical artist could achieve in terms of industry recognition.

Nobody outside of stans and artists actually check for Grammys like we seem to think. It's not something that people do before they buy a song, hence why having Grammys would earn you more respect within the industry itself than to the general public.

i agree with this, but getting an Oscar is a lot harder than a Grammy, you can get nominated for a lot of Grammys in one year, but no one gets nominated for a lot of Oscars, so it's a lot harder to win an Oscar, which is why most only have 1 or 2, and a lot of artist have 10+ Grammys

This is very false

Emmy. Grammy. Oscar Tony.

The four UNIVERSALLY accepted measures of talent in show biz. If an actor NEVER won an Oscar, sure they can still be "successful" but the credibility will wane eventually. Its about being taken SERIOUS in your field of profession. Like winning Employee of the month/year.

Plenty of acclaimed, talented, impactful legends have no Grammy's. Doubt anyone would deny them the respect they deserve.
Edit: I guess it's more accurate to say, not having a Grammy isn't a sign of a lack of respect from the industry.

Oscars definitely hold more weight than Grammys do.

Yes, but while this is true, not having a Grammy is NOT a sign of lacking respect from the industry

When musicians go on tour, you often see the phase "Grammy Winning Artist" in the tour promotion. Sometimes you see the phase "Grammy Nominated Artist".

Clearly the tour promotion people believe the public care enough about Grammys to let it influence their choice to buy a ticket.

I see a lot of you all disagree with me and that's totally fine. I do follow the Grammys religiously (but I also stan Katy) so I can't say whether or not it really has an effect on me. Grammys obviously mean a lot of respect but I don't consider them a deal breaker when buying new music or streaming a new artist. Just my 2 cents

No.

Being nominated means you're respected.