Nine batsmen contributed five runs between them, with six failing to score.
Victoria were outstanding in the field but Wayamba followed their poor batting by dropping two early catches and missing a run-out opportunity as well as allowing extra runs through misfields.
"That was probably our worst performance of the tournament," said Mubarak.
"We need to do a lot of soul searching."
Fast bowler Peter Siddle took four for 29 as Wayamba crashed to 106 all out in 16.3 overs, losing their last eight wickets for 25 runs.
Victoria hurried to victory with 6.4 overs to spare with captain David Hussey hitting 47 not out and opening batsman Aaron Finch making 38 not out.
The Bushrangers, who have completed their round robin fixtures with six points from three wins, now have to await the