The cut-off in that case was common sense. Which is in my book the best cutoff to use.
As for the list, yeah, it's flawed but not anymore than some I have seen floating around. All lists are flawed, as a matter of fact. They are doomed from the beginning.
This one just appears a bit more flawed because it is drastically different from the general concensus here at HF.
Concerning Grebeshkov: why are people always clamoring he is too low on every list? The guy is very sound but ordinary.
Biggest surprise for me was seeing Ryan Suter at #40 while Coburn and Phaneuf are 6 and 9 (I think). That's a very bold move that is sure to have a few Preds fan angry. I wouldn't have put him quite that low but yeah, I think Nashville made a mistake and picked the worse of the "big three".
I don't see how this list is so bad in comparison to others.