Because he's an old style plodding handicapper. That's not meant as an insult. He's exactly the sort of horse that used to win Cups all the time. It's just that things are different these days. Now, it's usually won by a horse that's at least competitive at WFA and is capable of winning at distances as short as 2000 metres. Besides which, On A Jeune was an outsider last year, and he hasn't won a race since. No doubt some people think it was a fluke.

Personally, I think he has a good chance, but I must say that if you looked just at his record since last year's cup, it's certainly not that great.