the link notes their ranking was via basketballreference.com running some 2009-10 season simulation 10,000 times. I'd assume those guys would have a very thought out statistical model. STOMP
I don't know about them projecting the Wizards to be the LEAST likely team to win the title, but I guess after a certain distance down the list it really doesn't matter what your odds are "cuz you just ain't gonna".