I can't understand why Salvator Mundi is 3-1 for the Supreme

Salvator Mundi started Sunday as the 6-1 favourite for the Supreme Novices’ Hurdle, the opening race of the Cheltenham Festival, and finished it at as low as 3-1, and I’m struggling to figure out why. 

There’s no doubt Salvator Mundi has a decent engine, but he did so much wrong at Punchestown that anyone tempted by the current odds probably needs to take a step back.

Sunday’s race was not run at a fast pace and Paul Townend did all he could to settle him in the early stages, which may have affected his jumping. When he was correct at his hurdles he was fine, but if he approached a jump on a wrong stride it looked as though he was just guessing and hoping for the best.