Like I said, it's not something I fully agree with.
However the argument against the electoral system goes like this:
There are 5 areas. In four of the areas live 5 people each. In 1 area lives 100 people. The area with the most people creates the most wealth for all areas but in an election is over-ruled by the areas with the least people.
But is that not addressed because the states with higher populations get more electoral college votes - specifically to reflect the higher population - so you example is not valid
Perhaps I am mistaken?