Ospina, 28, conceded five goals at the Allianz Arena as the Gunners were overwhelmed by the German side in their Champions League last-16 first-leg clash.
The 5-1 scoreline could have been much more embarrassing had Ospina not made several impressive saves.
But Wenger's decision to start Ospina over first-choice Cech left many bemused.
And Nevin believes Wenger made the wrong call and reckons there is little room for sentiment in football.
Arsenal goalkeeper David Ospina
He told Chelsea's website: "I was over in Munich for the Arsenal game and was amazed that Arsene Wenger decided to allow Ospina to continue in goal, as he has all along in the Champions League, instead of Petr Cech.
"Now David Ospina is a fine keeper but Cech is better, has pretty good history in the Champions League and a specifically good experience in the Allianz Arena against Bayern Munich!
David Ospina has started every game in the Champions League
"In the end Arsenal were hammered and the keeper wasn’t in the top 10 problems on the night for the Gunners, but had he cost them the tie, the season or possibly the manager his job, would it really have been worth it just to be nice?
"Sentimentality has its place in football, but in the bigger scheme of things whether it is the FA Cup, the Premier League or the Champions League the sentiment is generally reserved for winners when you get to the top level.
"Apart from anything else players don’t usually want to get played for sentimental reasons, they want to be chosen because they are the best for the job at that moment."