It hink I will leave an anlytic take on this.
They had to take a recent player, better still an active player. Then it's a not so simple choice between Malkin and Ovechkin(all the belivers of the OV is bad on the NT Church, there is lithurgy starting, please attend). They had to pick one. I would pick Malkin too, because of the 2012 WHC. But he is not ahead by much. Also let's not forget those NHLers come to the NT when they have the opportunity(I will use this opportunity to say "F.. you, NHL!" F... you for that and for the Olympics). They often come gassed and jetlagged and have to plat like 2-3 playoff games right off the plane. Ovechkin once played on a broken foot for the NT, but that doesn't count, right? Malkin has had his glorious WHC tournament when he was able to be with the team from Day 1 troughout the tournament. Of course he was the lone star of that tournament. But let's not forget that without the reinforcements personfied by Syomin, Datsyuk and yes Ovechkin who came in last minute that team might have not won that title. And in general the whole thing is just another meaningless list. Nothing to gain, nothing to lose there.
But on a personal note let this be said:
It is extremely hard if not impossible to break into the real all-time Top3 of russian hockey: Bobrov, Kharlamov and Makarov are undisputed. Malkin and Ovechkin are still a whole tier below.