These aren't awards for the guys you'd pick in a postseason series, or the guys who have the best per-game rate/advanced stats, or whatever.
These are awards for being the best players in a given season, which consists of 82 games. At a certain point, if you don't play a lot of those games, you can only be so good in that given season, regardless of how good you are in the abstract.
Because of that, talking about the "best" players being ineligible makes little sense. They weren't the best in the season being voted on.
And once again, this isn't theoretical: nearly all the players who would get "snubbed" are on mediocre teams that are mediocre because those players are missing games.
Why is missing games less of a big deal than missing jumpers, in the context of regular season awards?