Watching Obama engage the brackets is fun for many of us, of course--which is likely why ESPN provides this as an embedded link.
But actually it makes a lot of sense that Obama would make moves like this to augment the Rhetorical Situation popularly known as March Madness. Not only does it reinforce his already stratospheric credentials with the younger generations, but more importantly, in this economy it would certainly not do to sneeze at a cross-continental multi-million dollar spectacle, replete with cash infusions into the travel and service industries by wealthy boosters and frenzied alumni alike, an upsurge of television advertising funds, too, and perhaps consequently, a spike in retail consumerism, etc.
And it is worth mentioning that the Final Four this year will take place in..... Detroit, a city that, ahem, can use all the help it can get, right now.
And then there's the psychological excitement of the thing--wise, perhaps, to inject Bracketology into a Public Discourse overly dominated by doom and gloom.