Vandy played the #1 out of conference schedule in the nation. RT Rpi ranked their overall schedule #1 toughest in the nation. They played 11 games against teams in the top 25 of the rpi. They beat Florida 3 times who is ranked #10 in the same rpi. They beat Texas A&M three times and all were blowouts (a top 100 team). They played 25 games vs teams in the rt rpi top 100. After their only bad loss of the season at Mizzou, they won 7 of 9 to finish the season with the only losses to Kentucky and SEC tourney #2 Arkansas.
That is why the NCAA rated them the #33 team in the nation today. I like former Vandy assistant Dan Muller and his Illinois State program. But look at their schedule. They are in no way comparable to Vandy. If there is a mid-major who deserves the spotlight it's MTSU and they certainly are getting it.
While I can't argue with the quality of scheduling, I can argue with setting the precedent of an at-large team that has fifteen losses. At some point, there also has to be value on winning the games you scheduled. Just because you scheduled murderer's row, and won 55% of them means they're good? No way they're one of the best 33 teams in the country. Best 45, sure, maybe.
Also, is the 7th place team in the SEC really a tournament team just because they beat the Gators three times? Some teams create match-up issues for other teams that are a lot better than them. That doesn't necessarily make them a good team.