To answer your first questions:
1) Yes, this is ridiculous.
2) No, this doesn't mean anything.
It's early November. Heck, U.S. elections are still open. But Joe Lunardi is already publishing Bracketology updates. And why not? They're a lot of fun. Especially if you're a fan of one of the No. 1 seeds, which right now are Indiana, Kentucky, Ohio State, and Louisville.
The Pitt Panthers are back in the tournament after sitting out in 2012. Amusingly (and there can be little doubt he's doing this primarily for laughs at this point), Lunardi has them as a No. 6 seed facing Butler. The Bulldogs famously ousted Pitt from the tournament in 2011, and, somewhat less famously, the Panthers knocked Butler out of last year's College Basketball Invitational.
West Virginia is one of the first four out. With the departures of Kevin Jones and Truck Bryant, it would be a little surprising if the Mountaineers made the tournament, but one never knows.
Robert Morris makes it in as a 14 seed, presumably as the Northeast Conference representative.