Does it seem odd that Captain Kathryn Janeway was given command of a starship...

Not really, seeing as she massively expanded the Federation's knowledge of the Borg and the Delta Quadrant as a whole. She also covered much more distance than Picard ever did, just milling around the Federation.

Picard could of been promoted years before I even remember it mentioned on the TV show he liked being a captain and it was even mentioned by Kirk in Generations to not give it up.

A slight correction. She did not get lost. Her ship was taken by the Caretaker. She brought the ship, and most of her crew home, through both hostile and friendly territories, with no support possible from Star Fleet until nearly six years into the return journey. Why wouldn't she be promoted?