Well the winner was The Shape of Water! Although it was among the two front-runners, I hadn't expected it to actually emerge the victor, being as Three Billboards had won the top awards at the Golden Globes, the SAG Awards, and the British Academy Awards. Three Billboards is a great movie, no doubt, but as explained in the OP, I liked other feminist commentaries a little bit better and am quite glad that one of those others emerged the victor at the Oscars last night.
I still wish it had been the one that was actually directed by a woman (which was, incidentally, the most critically acclaimed film of the year), Lady Bird, which, of course, as I predicted, won nothing whatsoever, but oh well. I'll keep dreaming of a day when there will be
genuinely equal opportunities for artistic recognition.
This was the first time since 2004's Million-Dollar Baby that a female-led movie has won Best Picture, and that's kind of significant unto itself, I believe; reflective of the cultural moment we're in right now.
(Incidentally, for my personal taste, The Shape of Water was my fourth-favorite movie of 2017, after 1) the documentary Fear Us Women, 2) Lady Bird, and 3) Star Wars: The Last Jedi.)