The Oscars have a rich tradition of upsets, with some movies receiving many nominations but winning only a few. Examples include The Color Purple (1985) and The Turning Point (1977), both with 11 nominations but zero wins. The Power of the Dog (2021) received 12 nominations but won only one award. Likewise, Chinatown (1974) received 11 nominations but won just one Oscar. This is a reflection of how praise from critics doesn't necessarily translate into gold statuettes, and many award-winning films have fewer wins than anticipated.
Source: Yardbarker