When you're ranked in the top 25 and play in a power conference, you talk about the teams you beat.
When you're in a mid-major conference, that's when you talk about the teams you've played.
Nobody expects Montana to have beaten top 25 teams. So if most of their losses came to the #1 team, I can understand if you want to brag about that.
Vanderbilt is ranked 18th in the nation. The way I see it, they had four chances to beat the #1 team in the nation and take a step forward. Instead, all that proves is that they can't beat the best teams in the nation. That's not an accomplishment since 300 out of 330 teams already do that anyway.
Vanderbilt went 2-6 against teams that made the tournament. One of those wins was against auto-bid St. Francis (RPI of 102). I'd be more worried about that stat then bragging about who the losses came against.