In the architecture that you have shown, there are effectively two loops. One through just a single diode and other through a larger diode in series with the resistor R3. One of the loops will be in positive feedback and other will be in negative feedback. To obtain overall negative feedback for stability, you need the larger gain path to be in negative feedback. Now, the two branches carrying I1 and I2 currents can be thought of as common source amplifiers. If the load for the common source amplifier is larger in the I2 path, then gain of that common source will be higher and you have to keep it in negative feedback. Hence that branch will be connected to the non inverting terminal of the OTA as the common source path provides an inversion.