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If all 12 teams are "the same", we'd expect the five seed to win only 1 time in 12, on average of course.  I think it plausible "every so often" that a 5 seed is say 11-2 and came on late and is really good, we all have seen that.  But they still have to beat two very very good teams, which is not probable.

@medinabuckeye1 - when you're doing fun, back-of-the-envelope math like that, you need to include that in 7 years, no 3 seed has won it! 

There could be more to it, but my thinking is that the lack of #3 seeds winning is just a random thing.  

So here is the whole history by seed:
2014:

• 0-1
• 1-1
• 0-1
• 2-0

2015:

• 1-1 - 1-2
• 2-0 - 3-1
• 0-1 - 0-2
• 0-1 - 2-1

2016:

• 1-1 - 2-3
• 2-0 - 5-1
• 0-1 - 0-3
• 0-1 - 2-2

2017:

• 0-1 - 2-4
• 0-1 - 5-2
• 1-1 - 1-4
• 2-0 - 4-2

2018:

• 1-1 - 3-5
• 2-0 - 7-2
• 0-1 - 1-5
• 0-1 - 4-3

2019:

• 2-0 - 5-5
• 0-1 - 7-3
• 1-1 - 2-6
• 0-1 - 4-4

2020:

• 2-0 - 7-5
• 0-1 - 7-4
• 1-1 - 3-7
• 0-1 - 4-5

Champions:

• Two (2019, 2020)
• Three (2015, 2016, 2018)
• Zero
• Two (2014, 2017)

Up through 2018 the #1 seed had never won the NC and they were a pretty dismal 3-5 overall but they've won the last two to improve to two NC's and 7-5 overall.  The #4 seeds started out great winning two of the first four and being 4-2 overall through 2017 but they haven't won a game since so now they are 4-5.  

Last three years:

• 5-1, two NC's
• 2-2, one NC
• 2-3, no NC's
• 0-3

That seems like statistically what you would expect in general.  

There could be more to it, but my thinking is that the lack of #3 seeds winning is just a random thing. 

Yup