Humanity's best is by no means present in that contest. These Jeopardy champions do not represent the world not even all Americans. In most cases people that compete in these games are not by any definition the brightest. I really like the idea of the Machine versus Humans contest, but having some already retired champions of a game competing with a tireless computer and supposedly representing humanity at its best it is at best unfair.
Fair or not is an entirely different argument. The purpose of this whole thing was to demonstrate whether or not Watson was capable of thinking more inline with human thought processes rather than base on static data. I think this is the beginning of an amazing advancement.