To be fair, there aren't enough runners for five years to be a true sample as any statistician will tell you but you have to include 33/1 chances, just like you'd have to include a run of 12 Fabre horses getting turned over at odds on. All sample sizes contain extremes at both ends of the spectrum. Euro's assumption that French raiders are overpriced carries some weight but as he concedes, it isn't black and white. Trackside himself said that he didn't have a clue about the French form and that's how the runners become overpriced, remember at the end of the day that markets are formed by money and if punters don't have a clue about the French form, they won't back French horses and thus their prices will move out. It's the same the world over, look at the International meetings in Hong Kong, European horses are ignored completely in the betting. It's natural for punters to bet on what they know and understand.
How would you price the races up out of interest? I don't think Mashoora is value at 10s but she shouldn't be any bigger and her true price is probably more like 8s. The colts however, especially FF are insanely big.