What is the goal of selecting the teams for the tournament? Is it to reward the "best teams", or the teams that had the best seasons? I think, for the in/out question, it should be based on the latter. The new index seems to concentrate on the former, which I don't like and which will lead to more P5 teams in the tournament.
The new system is clearly an attempt to have the cake and eat it too. There is MOV included, but of the 5 or so sections a couple are focused entirely on W/L without MOV. It will depend on the weight of each category how it plays out.