It's a different Oscars this year. For one thing they're happening two months later than they usually do, with the Academy hoping that a) the pandemic would be under control enough for them to have a regular ceremony and b) that enough movies would actually get released to have a quality nominees list. Neither of those exactly happened as planned, but here we are.
This year's telecast is also unusual in that Steven Soderbergh, a director who has made mainstream films (Ocean's Eleven, Eric Brockovich, Magic Mike) and arthouse fair (The Limey, Solaris, Schizopolis) was brought in to "re-envision" the ceremony, which definitely feels more "cinematic," and filmed in Union Station for a more casual atmosphere closer to The Golden Globes. (It's also allowed them to go maskless while cameras are on.) Presenters are giving personal anecdotes about each of the nominees in lieu of the usual clips from the films. Questlove is providing the music for the night.