Wade was the 2011-2012 MVP in the sense that he played far fewer minutes, and when he was on the court had fewer points, assists, and rebounds per minue than James? And scored less efficiently? Maybe it's the fact James is comfortably ahead in PER, eFG%, or TS%, whichever you prefer? Or the fact that James nearly doubled Wade's win shares? Or how he almost doubled Wade's postseason win shares?
I guess I do seem to recall postseason opponents doubling James nearly every time he touched the ball inside the 3-point line and thinking, "damn, it's a good thing they have so much respect for Wade, or else they'd be doubling him outside the 3 point line and he'd have 2 guys contesting his triples!"