I think bad could be a bit harsh. Mediocre is more accurate, which carries a bad connotation.
First off WAC schools were a combined 50-50 entering conference play, the definintion of middle of the road. The best wins turned out to be NMSU and Louisiana Tech beating Southern Miss. The teams with good records Louisiana Tech and Utah State didn't play a difficult schedule and the Aggies didn't beat the teams that could have helped their cause. Entering the week, half of the teams in the league are below .500. There have always been bottom tier teams but half. Not to mention, the bottom three teams Seattle, Texas State and UTSA have combined for 6 WAC wins.
But as someone pointed out to me recently, when was the WAC truly a great basketball conference. Nevada steadily declined at the end of their time in the conference. The WAC is currently ranked the No. 13 RPI conference, which is right around where it's been throughout NMSU's time in the league.
2012 — No. 12 RPI — NMSU auto bid (No. 13 seed out first round)
2011 — No. 13 RPI —Utah State auto bid (No. 12 seed out first round)
2010 — No. 10 RPI — NMSU auto bid (No. 12 seed out first round) Utah State at-large (No. 12 seed out first round)
2009 — No. 11 RPI — Utah State auto bid (No. 11 seed out first round)
2008 — No. 21 RPI —Boise State auto bid (No. 14 seed out first round)
2007 — No. 9 RPI — NMSU auto bid (No. 12 seed out first round) Nevada at large (No. 7 seed, out second round)
2006 — No. 9 RPI — Nevada auto bid (No. 5 seed out first round) Utah State at large (No. 12 seed out first round)
From what I have seen since covering conference the season after Nick Fazekas leaving for the NBA, there is certainly a lack of starpower this year. Luke Babbitt, Paul George were lottery picks. Fresno State's Greg Smith has worked his way into the Houston Rockets rotation this year. Is Sim Bhullar the only realistic NBA player in the WAC right now?
The quality of the league as a whole won't be determined to me personally until the WAC Tournament. Consider if the New Mexico State basketball team wins the tournament — a realistic outcome for sure. Can we honestly say the quality of the league hasn't dropped off if the Aggies win the league without at Chili Nephawe and perhaps Tyrone Watson — two first game starters.