I think so, especially over shit like Surf's Up. It was funny, witty, and had great writing and voice work.
Then again, the academy has proven time and time again they don't know shit, like nominating Jimmy Nuetron over Waking Life. Everyone knew Shrek was going to get the Oscar, in fact some think the animated movie class was made that year to keep Shrek from winning best motion picture, but to not nominate Waking Life at all?