It seemed to me to be a lightly veiled attempt to inform the remaining few who didn't know about Obama's middle name (I watched the Oscars with a couple of them), a tactic used by the Hillary campaign to show how unelectable he supposedly is.
If Hillary ends up winning the nomination, she might want to think about rewarding Stewart for his last-ditch effort with some sort of honorary post, such as the head of FEMA or some luxury ambassadorship. Maybe she'll decide to subsidize left-leaning political comedy instead. A seat on the FCC, perhaps? Ahh, the sickening possibilities are endless.
Maybe it won't matter, anyway, since this was probably one of the least watched Oscars in years.