This is certainly the case.
On the other hand, "best papers" are not necessarily really the most important papers. Often politics, e.g., proportional representation of all important sub-fields among the best paper nominees, decide about whether a paper gets named "best" or not.
Anecdotally, I know of awesome papers that were not selected as "best paper" and 'cute idea' papers without substance that got a "best paper" award.
Anecdotally, I know of awesome papers that were not selected as "best paper" and 'cute idea' papers without substance that got a "best paper" award.