Why does Sergio Ramos have more individual awards than Diego Godín, even though the latter is comfortably a superior centerback?
Why does John Terry have more individual awards including 3 UEFA Club Defender of the Year titles, when compared with Rio Ferdinand?
Individual awards don't always represent a player's level, and there are so many intangible things that go into voting. Lampard was the obvious star player at Chelsea because the wide players were ok to good without being excellent (Duff, young Robben - who went in and out, Cole, Malouda, Kalou), the midfield was functional and brought the best out him (Makélélé, Essien), and Drogba was a great striker - but didn't score that many goals (oftentimes, as many of fewer than Lampard).
Scholes had to compete with players who were more obvious stars - Yorke + Cole combo, Beckham, Giggs, peak Keane. Then Ruud, and the emergence of Ronaldo and Rooney. Plus, he didn't really have the team built around him, and the way we counterattacked didn't always bring the best out of him in possession (until later in his career when he transitioned into the DLP). Gerrard and Lampard are touted for their volume of goals, but in the one season where Scholes has freedom like they did, he scored 20 goals (still no Ballon D'Or votes in a season where Jan Koller got one and Nihat got three). Plus, unlike Lampard and Gerrard - who took loads of penalties, and were often de facto free kick takers, Scholes gave way to Beckham, and later Ronaldo.
Some players shine at the right time to claim awards - case in point, Jamie Vardy finishing 8th in the Ballon D'Or. Not to say Lampard is comparable to him, but just to illustrate how he claimed a greater individual height than better contemporary strikers. At no point of his career was Lampard the 2nd best player in the world - which the Ballon D'Or thing erroneously conveys.