You are correct in your assessment. Go to the top of this page and click on FB Recruiting and look at the team stats. Here are a few highlights.
Nebraska has 30 total recruits - only Louisiana Monroe has more at 39 if you don't count Army and Navy.
B1G: Penn State 25 with an average of 3.56 stars and total of 2133, we just barely edged them out in totals
Wisky has 22 with an average of 3.5 stars and a total of 2077, just behind us
Nebraska: 30 recruits, 3.33 average stars, 2138 points
Other notes: OU 28, 3.71 and 2605
Georgia: 28, 3.96, 3159
So when you ask if the #16 rating is a function of quantity of recruits or average star ranking it is actually both. Look at overall star rating and we lower than our B1G brethren who we nosed out on the list. But it you look at average star ratings both Penn State and Wisky beat us there.
Look at it however one wants. Numbers are numbers people love them when they are in their favor and cuss them when they are against their thoughts.