I wouldn't go as far as saying we don't deserve the playoffs, I mean look at Detroit or Toronto- one of them will get in with less ROW and worse goal differential (right now Detroit is just one better than us but that's due to phantom shootout goals).
For one, there's no way Toronto's getting in. I'm pretty sure it's Columbus and Detroit going in, we can call it a wrap there.
However, you're right, it is a testament to how bad SO MANY Eastern Conference (mainly Metro Division) teams were this season. Any other year, the record the Devils have would land us in 12-14th in the East. A few shootout wins and the league media would be talking about the success story that is this year's "Jagr's Devils". Super frustrating.