I share your feelings about it but the Academy was stuck between a rock and a hard place.
From Woopi the Academy Governor:
"The reason they didn't go and take him out is because that would have been another 15-20 minute explanation of why we're taking the Black man out five seconds before they're about to decide whether he's won an Oscar or not," Whoopi said on "The View" on Tuesday. "And I'm gonna say I believe Will Packer made the right decision. He said, 'Let's get through the rest of this so we can deal with it wholeheartedly.' So, that's what went on."
I think she's right, and it shortened the duration we're going to have to hear about it.