He is 36th in career WAR among position players. He twice led the league and 2 other times was 5th. By my count there are 147 position players in the Hall who played in the majors (I am not counting Negro league players only because we don't have a WAR ranking for them).
This puts Bagwell in the to 25% of career value among the top 147. Maybe he will get in eventually, but his gain this year was slight.
Bagwell had 387 career Win Shares. Through 2001, that would have been tied for 56th among all players, including pitchers. Not sure where he would rank now, definitely still in the top 100.
I count 63 pitchers, so there are 210 players + pitchers. Bagwell clearly is above the bar by two different measures, WAR and Win Shares. I doubt both of these measures are so seriously flawed that he should not be in.
Is there some reason to keep waiting to see if proof of using PEDs is found? I don't think so.