No, he is not a bad quarterback. Stats don't tell everything, but you don't pass for 10,000 yards by being a bad quarterback. You don't have the highest completion percentage in school history by being a bad QB. I doubt Weber will be drafted, only a small number of quarterbacks do get drafted. No one is saying that Weber is a fantastic QB. But he's not a bad QB.
I'd call him average.
Good quarterbacks can change the outcome of games. Example, If Weber was a Badger and Tolzien was a Gopher would either of these teams have different outcomes this year, probably not. Good Quarterbacks make players around them better, average quarterbacks are unable to elevate the level of play of their teammates.