there's no irony - the same way religiuos people will accept stuff that normally contradicts everything they know about the world, Hollinger will trust his math more than his eyes. He does that because he believes that mathematics is always objective, while his judgment could be influenced by outside things.
As for those particular rankings, while having the Raptors
at #5 might seem like an obvious invalidation, you have to look a bit deeper. Newton's gravity theory is still taught in most schools around the world, despite the fact that it was proven as incorrect. But in the end, it's the best aproximation that could be explained to the average kid.
I am a mathematician myself, so I understand his position. I'm not agreeing with him, sometimes he will make the most stupid comments because of this. Sometimes his formulas are way way off, and therefore any conclusion based on them are completely irrelevant. But, for what it's worth, I actually think his power rankings formula is one of the better ones - not perfect by any stretch, but I do agree with most of his ground rules used to establish it. And really, look at the rest of the standings, is the order that much farther from your own rankings? Remember, all positions are CALCULATED, by a computer, using a set of mathematical rules. The same rules are used for all teams - and it looks to me like a pretty accurate ranking. What if we're actually better than we think we are?