Would Pete have to tone it down for the Oscars? Is that possible for him to do? Or do you get him to host to see what kind of trainwreck he causes....? It could certainly (and WOULD) bring in a MUCH younger crowd to watch. I know my daughters (aged 18-24) would certainly watch the whole thing....
The Oscars should continue to not have a host. There's no need for it whatsoever. The last couple years have proved that definitively.
The ratings have been in decline for years, with and without a host. I'm not talking about ratings. I'm talking about the whether the show itself needs a host or not. It doesn't.