Kind of a big leap IMO Juice.
If my best friend kicks me in the nuts then maybe I don't feel the same way about him anymore. You are placing a very small value (in the recipient's mind) on the awarding of the honorary degree. I lean more towards
@Mr. Tibbs 's POV, the rejection is a direct repudiation of Shad's person and reputation, and those billionaire CEOS have huge egos and do care about this stuff.
Different but analogous to Marc Andreesen's situation many years earlier, though that was more $$$ related than reputationally related. He has had nothing to with UI since. Not sure why Ellison hates us, probably more just chasing a perceived winner in Ann Arbor (and therefore back to my point on egos).