That's a fair perspective, but I'm left wondering if it sounds good only because it's very nebulous and hypothetical. I wonder if it would sound as good if you were to be more concrete.
In particular, would you mention (or, at least, loosely characterize by subsystem or specification) some of the bugs in IE that you would consider a higher priority?
I'm asking because all of the following appear fundamental to me: DOM Traversal, DOM Range, DOM2 Core, DOM2 Events, DOM2 Views, DOM2 Style, CSS3 selectors, ECMAScript conformance & garbage collection, the behavior of HTML forms when manipulated by script, the HTTP 1.1 Protocol...
I admit that there are 4 tests for SVG and 2 for SMIL that could be placed at a much lower priority, and if IE were sitting at 94/100 for missing those then I might agree with you. (Those were among the bucket 5 tests that arrived via the contest.)