Well for start, you have to look at the obvious regionalism that pervades The Source Awards or Rap in General. In 1995, Hip-Hop Culture was in flux because there was finally an intent to nationalize rap via gangster rap.
Now look at the foundations of rap; in the NYC you have the Bam/Herc/Flash trifecta and it's based out of a collagist approach to DJing. This later manifested itself in the use of sampling but for the average American, their impressions of rap were over 808s and synths, post-electro music. So since rap had to travel over the span of America in a rather grassroots method, y'know, not being a recognizable radio format yet, it was often the more post-electro sound that would manifest in these areas. There are no DJs spinning James Brown with Kraftwerk with Rolling Stones in LA, it's strictly 80's electro/R&B in the post-"Flashlight"/Zapp mold, or in Atlanta and Florida its the more dance/club oriented electro. So by the time NYC rap was finally a thriving scene, records from outside NYC were 'primitive' in contrast because the climate of rapper/production innovations in their zones were sluggish.
As a result, NYC had always had an elitism to outside rap because very few were keeping up. Look at say, NWA. On a technical level, very few of the rappers are at the level where they can compete with NYC rap, except maybe the D.O.C. and even he was a bit of a comparative throwback on his emergence.
Also, you have NYC's climate of the time. The 90-93 period was marked by an advent of post-Native Tongues "Happy Rap" or "Hardcore Rap" (no not the MOP definition). You had your Kwame next to your Brand Nubian next to your Das EFX next to your Fuschnickens or whomever. This was a very 'creative' time, but it would be soon pushed out by Wu-Tang/Nas/Biggie. This was in hip-hop sense, a group of people who all wanted to spiritually reject the Native Tongues sound and go back to the Juice Crew aesthetic (Kool G Rap being god to all three of these people). There was also an overt desire to stop serving as party rap or educative messages as sermonizing (let's not forget, there were a LOT of cults infiltrating rap in this era. Arrested Development were Church Of Christ, Jaz-O was with the Nuwubians, 5%ers were everywhere. Rap was a significant tool in taking young black men and indoctrinating them into so many religious groups back then, and so successful!.) So now, the turn is to post-G Rap Gangster Narrative Storytelling, and the portrayal of oneself as a 'street icon'.
(It's a little known fact, but Native Tongues are actually a spiritual opposition to the Mr. Magic/Marley Marl alliance which was often funded by the drug trade. Marley was of course friends with Eric B. who knew the Paid In Full Posse v. well and most of his projects was often funded by drug money; essentially all of the Juice Crew was an act of vicarious consumption, drug dealers flaunting their success by sponsoring talent. So you have a sort of spiritual NYC War in rap with The Juice Crew & Rakim with the effective LOCKDOWN of WBLS by the Marley/Magic trade on one side and The Native Tongues, who are a sort of Zulu-endorsed anti-dealer alliance (JBz, Tribe, De La, Latifah. Informally the Zulu-endorsed Ultramagnetic, P.E. (who even sniped at The Juice Crew on "Nation of Millions") and the 'redeemed gangster rapper' KRS-One). Eventually, The Juice Crew's benefactors went to jail or died, and the crew was unable to maintain their stranglehold, and The Native Tongues element were often endorsed by major labels who saw them and wanted to promote them as artists. So "Self-Destruction" is less some charity record and more of a Camp David of NYC Rap.)
On the flipside, you have the domination of LA rap. After years of too many indie labels clogging up the scene, fucking up the business, you had the more savvy West Coast labels who often didn't get picked up by majors too suddenly, and had to learn how to market themselves nationally as the LA Rap scene was so slim compared to the NY scene. NY never thought about marketing themselves nationally, they were so caught up in 'the scene'. So naturally, the industry recognizes that there is a scene of people who have no ego about leaving the confines of their home areas and touring, networking with other artists. Furthermore, whereas sampling and the more aggressive/"avant-garde" artificial sounding stuff of NYC was a lot for radio to tolerate, West Coast rap had evolved to appreciating musicality and was more or less fond of riding R&B record grooves. Which of course, radio could tolerate, as it was recognizably 'musical' and thereby had more versatile natures for programming.
And those rappers lacked any sort of Zulu-Nation movement in LA. Yes, yes, Afrika Islam was Ice-T's DJ/Producer, but this wasn't a homegrown thing. Rap in California began with Ice-T's Schoolly D knock-offs and Too $hort's pimp & cocaine raps (often paid requested verses by drug dealers who could afford to 'rent' him for a freestyle tape). Furthermore, the gang culture in California was now becoming marketable in a way that wasn't so prevalent in NYC (For example, the best indicator of what gangs in the proto-hip-hop NYC was The Warriors. L.A.'s hip-hop era has... Boyz In Da Hood, Colors, Menace, you name it.) It was an industry now to make 'exotic' and mythologize this culture, and would receive relatively big-money compared to the obvious cult movie, 'get into middle-america', 'cross-over' realm of NYC rap.
So now with all of that in mind, flash back to 1995. NYC is finally realizing it needs to become more capitalistic and start thinking about things like competing with a whole generation of rap audience that wants to hear Snoop & Dre-type narrative conceptual gangster rap. It is dealing with the fact that there are Southern and West Coast rappers with massive national hits and platinum albums taking a culture that they always presumed was theirs. It is dealing with the fact that they want to achieve massive record sales without having to do 'pop' music, while still conforming to urban pop and selling out in more subtle ways ("If I Ruled The World" is Nas going from sample-based 'hardcore' rap to old 80s hip-hop played over at a club tempo and Lauryn Hill doing a sung chorus for fans to sing along to. It is most DEFINITELY Nas selling out, even if you don't think it's as vast a compromise for him as say... "Oochie Wally" was.) This is an NYC-based Magazine, in a no longer NYC dominant industry, with an audience comprised of a great deal of people who are desiring a return to coke glamour, 'ghetto fabulous' mentality etc. Being forced to share their celebration with people from California, Atlanta, Florida, Texas, you name it. Their chosen hero is Biggie, who is to them the ultimate of post-G Rap narrative, and Puffy his director, a master of manipulations, club dominations, and someone who is literally the offspring of a NYC Drug Trade Icon.
His nemesis is Suge Knight. A parasite of the highest level, who thrives on bullying and gross abuses of even his own talent he's supposed to defend (Slackk's bigged it up a bunch of times, but read Ronin Ro's "Have Gun Will Travel" on Death Row. The amount of abuse that Warren G has taken over the course of his life from Suge Knight alone is harrowing.) This is a man who sees such a narcissistic delusional city in flux, who sees how badly Puffy is borrowing from the Death Row aesthetics, who is WINNING and knows how much he is hated by New York City for the fact that he's a 'Blood', from "Hollywood", that he clearly has no actual ability or talent but can thrive better than these people who had to take these 'baby steps' to succeed in the music industry.
Also the key difference: Altamont is seen as a death-knell. Nothing ended when The Source Awards commenced or concluded.
Also no actual murders occurring is a big deal.