as mentioned, top 25 is very heavily record dependent, projection report uses record but is less reliant on it. ranking takes RPI into account a little too. NT seeding takes rpi into account more. NT seeding relies heavily on record vs top (25, 50, 75, 100). it also takes into account margin of victory, to some extent.
overall, the project report is a pretty good indicator of a team's quality, while top 25 is garbage. also, just to note, projection report is EXACTLY based on the seeding formula. if you are #1 on the projection report to end the CT, you are guaranteed the #1 overall seed in the NT - same on down the line, except that past #2, things can get shuffled around to avoid conference match-ups. still, the projection report is exactly the "s-curve", as they call it in real life.