I think the past several years have been a rather low point for GCC. It hasn't been as bad as the 1996-1999 period of stagnation and strife, mind you, but it hasn't been particularly good, either.
LLVM and Clang have offered the first real competition that GCC has had to face in a long time. We've actually seen Clang be the leader in some cases, offering improvements that have then been implemented in GCC sometime later (like better diagnostics, colored diagnostic messages, the use of C++, etc., etc.).
Meanwhile, we haven't really seen anything truly compelling come out of GCC camp. Recent versions of have offered some optimization improvements, but nothing earth-shattering (in a good way). Its C++11 and C++14 support is quite good, but so is Clang's. The Go front end might be the most interesting development, but Go isn't a particularly interesting language, and GCC's version lags that of the main Go implementation.
I could see an award perhaps being deserved after successfully coming back from a period of stagnation like we've seen, after delivering several positive and revolutionary changes in a short period of time. But small, incremental improvements, or merely catching up with competitors, doesn't seem all that remarkable.