Just for everyone's information, the "most valuable player of the tournament" is selected based on a points system. 3 points are given for a "man of the match" award, 2 points for the second best player and 1 point for the third best player.
McGrath has gotten 15 points, well clear of Matthew Hayden. This has been selected by the commentary panel.
I would'nt totally agree with you because these guys are a bunch of experts, and, in the age of 'power hitting', McGrath has still been able to take wickets, when not a lot of bowlers like him have been able to put up consistent performances.
However, I do feel that they should nominate a 'Most Valuable Player of the Tournament' from both sides, and, depending on which team wins, they should give the award e.g. if Sri Lanka wins, then Mahela should be given the award (he has 11 points), if Australia wins, he should get the award!