No, this looks pretty normal to me. You have to take into account that raw IIS logs are exactly that. Raw. They’re hits and inside SharePoint, it uses things like ows.js on every page, owssvr.dll is called for almost any aspx page, etc. so you’re not going to get popular pages from raw IIS logs like you would a static site. Check out the SQL Reporting Services and SharePoint reporting pack for this as it retrieves the data from a number of sources (including the IIS logs) and then parses it intelligently to find your best bet searches, most popular pages, users, sites, etc. as it understands how to interpret those from the raw sources.