Then call it being a selection based 20% on end of season form. Which is pretty reasonable when you're selecting a team at the end of the season. It's still far better than taking highest ratings, as far as I'm concerened, given that the highest ratings from last season were largely dictated by how well people did in their first few games. And ratings aren't completely based on form, are they? If they were, I can think of some players that would have much better or much worse ratings at the end of the season than what is shown. Looking at the 'current rating' system it seems far more accurate to me. I mean, look at Sajith - on the "Highest Batting" it places him at #14, despite the fact that, outside of his 118, he scored 74 runs @ 8.22 per innings... not exactly deserving of #14 rated batsman for the season in my opinion. He rates #49 in the current batting, a far more accurate showing of how he was thoughout the season. I can't find many faults in the current batting when it comes to putting the classier batsmen of the season at the top.
Consistent batsmen are rated highly and those who had one-off moments are not. That's how it should be. I'm quite certain that the ratings are sort of averaged out for the current rating anyway, much like current average is the average for the entire season and current strike rate is the strike rate for the season and average economy rate is... well, you get the idea.