Chad,
Are you in favor of the NCAA changing their 8 deep placements?
This is comparing Apples to Oranges. The NCAA has 76 D1 schools, that have to go through qualifying tournaments. The tournament then is a 64 man bracket. Counting the Qualifying Tournaments, they are awarding the top 10% in the NATION. If you would like to compare it to a grading scale, The "A Students".
Newton had 25 teams participating, and awarded the top 30%. Continuing with our grading scale analogy, "C- Students".
6A has 31 Schools. They award the top 6, which is the top 18.75%, or B- Students. If they only awarded the top 4, they would award the top 12.5%, or B to B+ Students.
To answer your question, I think the NCAA's is just right.
