Sure it's BS. We're all lacking in data so we were looking for a proxy by which to measure - and having a little fun in the process. Reviews are a wildly inaccurate meter, but in the absence of any other, it's at least worth observing them.
To actually measure downloads, we (Medialets - I'm the CEO) provide a framework that's a lot like Google Analytics for iPhone apps:
http://www.medialytics.com/
It's free for all developers and can be used whether you charge for your app or give it away. Rolling your own analytics or installing something like our analytics package is the only way to directly measure your app's performance on a real-time or near real-time basis.
Happy to answer any questions here, on our site or directly at eric.litman@medialets.com / 703-852-0582.