Saudi Arabia, UAE, etc weren't "banned" because they share a great deal of information with us about people seeking entry into our country. The 7 "banned" countries do not. It's that simple.
It's about information exchange. We can't get enough info from the 7 "banned" countries to make informed pass/fail decisions about their travelers.
If sharing information with you as you said here is the most important yardstick,rather than subtle religion test,why is North Korea is not on the list?
North Korea is not on the list because literally nobody is travelling from North Korea to the United States.
As to Egypt, from what I've read, the current Egyptian government is trying to play ball with the US. No need to upend things.
Obama's people knew what they were doing (and probably knew a lot more than you or I). I'd love to know why Lebanon isn't on the list though.