Since Reagan was not a veteran, I don't think that is the criterion. Other than serving a couple of replacement years as a lame-duck unelected president, there is little to distinguish Ford from hundreds to thousands of other sailors. Admittedly, he was a very nice man. Name a hospital ship after him.
Ford was not an outstanding president, but neither was Bush Sr. I think we should go back to naming carriers for battles, but as long as they are going to be named for presidents Ford is as deserving as any other IMHO.