Normally I wouldn't comment on this since I think everything about Hollywood is a farce. However, since this was such a dramatic incident, staged or not, I will comment on it. Seemingly Chris Rock made a joke about Will Smith's wife's hair loss due to a condition known as alopecia. Obviously that joke was inappropriate yet it's hard for me to not think the event was staged. Why would he say that? It sounds like a stunt to boost views in an industry no one cares about.
VIA JAPANESE TELEVISION: The uncensored exchange between Will Smith and Chris Rock pic.twitter.com/j0Z184ZyXa— Timothy Burke (@bubbaprog) March 28, 2022
Update: Turns out that Pfizer sponsored the Oscars this year. March 23 2022 Pfizer announced that "Etrasimod is an oral, once-a-day, selective sphingosine 1-phosphate (S1P) receptor modulator being investigated for a range of immuno-inflammatory diseases including ulcerative colitis, Crohn’s Disease, atopic dermatitis, eosinophilic esophagitis, and alopecia areata." Last year they announced Phase 2b/3 Trial of Ritlecitinib in Alopecia Areata.