Yeah, I have to say I'm also critical of this. One side is the gamification aspect, which I don't really think is beneficial to healthy discussion. The other is the possibility for abuse; these awards give trolls a superpower by tagging other people's posts with highly inappropriate "awards" that could be very badly received.
I see the value of monetization, but maybe something as simple as an optional "PieFed donor" flair on user profiles of people who send monthly contributions could achieve some of this benefit without the possibility for abuse.