The Skill League as it stands has some merit and very clearly those in the top spots are there because they extremely good players.
However, speaking for myself, and also similar to what YanToy (JimmyDean) has said previously, I find the Points System discourages you from making the right moves, due to your fear of losing Rank Points by busting out early.
In Real Money tournaments, there are no penalties for busting out early, there are simply rewards for making the Final Tables, and particularly the Top 3 Spots. I therefore believe the Skill League as it stands is encouraging bad poker habits. Whilst encouraging survival in a Tournament is definitely a key factor, building your chip stack to win the Tournament is even more so...
Surely a Poker School should be training players to play great, winning poker not, "wow, I reached the Bubble, so I must be a good player!"?