I think this prize recognizes her courage and fight for human rights.
Dismissing that as "just being in the opposition" ignores the reality of what it takes to stand up to Maduro's dictatorship.
A dictatorship can be peaceful, and a democracy can be warlike. Venezuela hasn't been involved in any war recently as far as I know. Of course people who fight for democracy deserve being praised and supported, but to me it looks odd to do so with a peace prize.
The prize is supposed to be awarded to people who have "done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses". Is this the case here?
So I guess you could also claim that democracy helps maintain peace from that point of view, and a person who successfully proved that a "democratic election" really wasn't democratic at all feels like the right thing to award, as it'll further international peace.
edit: the submission article also talks briefly about how peace and democracy is linked (in their eyes):
> Democracy is a precondition for lasting peace. However, we live in a world where democracy is in retreat, where more and more authoritarian regimes are challenging norms and resorting to violence. The Venezuelan regime’s rigid hold on power and its repression of the population are not unique in the world. We see the same trends globally: rule of law abused by those in control, free media silenced, critics imprisoned, and societies pushed towards authoritarian rule and militarisation. In 2024, more elections were held than ever before, but fewer and fewer are free and fair.