the words Ignoble and the name Nobel,

[keannu]

What do you think this "ignoble" means? I think it's 2.

1. of low character, aims, etc.; mean; base: his ignoble purposes. 2. of low grade or quality; inferior.
3. not noble; of humble descent or rank.

gp28)Everyone has heard of Nobel Prize, but have you ever heard of the Ig Nobel Prize? The name is a play on the words Ignoble and the name Nobel, after Alfred Nobel. Ig Nobel Prizes are awarded each year for achievements that "first make people laugh, and then make them think."...

[englishlisteningworld]

I have to agree, I think it best is covered by two 2. of low grade or quality; inferior. although it is also close to number one - 1. of low character, aims, etc.; mean; base: his ignoble purposes. It depends on the particular recipient of the prize and what they received it for. It is flexible.