You make a good point crash when you say that most "class" horses are identified by the general betting public therefore the dividends can be a bit cramped sometimes.
However, I emphasise that the astute punter, if they do their form study can identify runners in Class1,2,3-6 etc generally at very attractive odds which are overlooked by the "pundits" thereby presenting very attractive betting opportunities for the alert investor.
I must disagree with your assertion that "class" stands out like "a sore thumb" as in my experience most punters at most venues do not appreciate the difference between Cl6 and open company or being beaten 6len in a Cl1 and running 2nd in a class4 race beaten 0.2len.
Good to speak to you.

Cheers.