That would be so, so tragic. From the article:

An Oscars contingency plan that would include history, film clips and out-of-the-ordinary concepts for the awards show is in the works, academy president Sid Ganis told The Associated Press on Wednesday.

With the writers strike dragging dangerously close to the Feb. 24 telecast, the film academy is planning two Oscar shows: “The show we would love to do and … a show that we would prefer not to do,” Ganis said.

The traditional, star-studded glamour-fest is in the works in case an agreement is reached. If not, organizers are working on a second show that will include “history and packages of film and concepts that are not normally ones that we would have for the show if we were moving straight ahead.”

The show will go on regardless of talks status, he said.