The difference between '95 and this year is you didn't have the loser point and the shootout. That helps further increase parity, which has gone up exponentially in the last two decades anyway.
Point being you're going to see nuttier results this year (Isles, Toronto, a skeleton Ottawa team and maybe Columbus making it) than you did in '95, when 14 of the 16 teams who made the playoffs in '94 went back in '95. I still wouldn't say it's illegitimate though, every team plays with the same rules, the playoff format itself is the same.
That's true what you're saying, but I don't know. You watch hockey long enough and you know that the real fun starts around game 50 or so. It just feels ass backwards this year.