Add in the presumption that Pitino receives Coach of the Year. Are you really giving COY to the guy who had three first-team All-Big East players?
Someone had to be left off and it was the player with (relatively speaking) the most pedestrian stats. Ironically, you could probably argue he should be BE Player of the Year.
Agreed. I'm not sure how much of the COY fits into it given their preseason projection (5th in the league) and the historic nature of their season (18 conference wins, etc). I think you are spot on that "someone had to be left off" so go with the guy with a bit lower "counting stats" even if he frankly is a reason the other 2 are on the first team.
Last year Creighton had Baylor S. on the 1st team and Kalk/Alexander on the 2nd team. Both were potential worthy 1st team selections, but there are so many good players, I think coaches tend to spread this stuff out.
Likewise, Hurley won COY in his historic season (also 18 league wins, I think), and had 2 first teamers (Newton/Spencer). Some probably thought Clingan was the best player on that team, but he made all league honorable mention (which would have been 3rd team this year, I think, because I don't think we had that last year). And Castle was left off entirely, though he was the unanimous freshman of the year and I don't think Karaban got anything.
So, I think when choosing among 8 or so qualified players, the voters for this stuff tend to be diplomatic in spreading around the wealth so to speak.