In sports, specifically in NCAA Basketball, when you watch a team (or player) that you haven't seen much of and immediately they look damn good. Usually applies best when you already have some knowledge of the team/player and so expectations are in place. These expectations need to be exceeded to pass "The Eye Test".
In watching San Diego State dismantle Jimmer Fredette and BYU in the MWC Championship, they definitely passed "The Eye Test". The Aztecs are legit!