I'm pleased to see how well my 1995 Devils grade out on that table. They were easily among the most underrated teams of the last few decades, mainly because that was a strike-shortened season and they were the #5 seed in the Eastern Conference during the playoffs that year.
I agree with the “one game” argument but the stat is based on entire playoffs, a pretty solid sample... These things tend to even out. I don’t think you can call it “deceptive” when every winning team has been #1 (other than one year, and they were #2) and I’m sure each had a blowout along the way.