The award indicates that many people like the X3 and prefer it over other cars. Does it mean that the X3 is a better car in every aspect? Well, does it matter? If it does to someone, than that person has made a decision irrespective of the award.
For me, the award is the confirmation of something I felt in my repeated test drives of many AWD/4WD cars: the X3 feels "good" and appeals to me. But I am just one person. The market decides and doles out awards. I am happy we can express our differences here: it makes for a fun read.
I liked the new X3 so much that I bought one, which is probably the best award I can give to a car. But just like any other award, this too will fade in time - as competitors build more popular cars, and we as consumer stand to benefit... Most of the time