Considering how low the MGP rewards are for finishing 1st in a chocobo race, why would anyone spend a lot of time/effort maxing the stats on your chocobo (much less a whole successive line of them)? The rewards for getting dead last are around 2/3 that of placing 1st (for MGP), so it doesn't seem particularly worthwhile to try very hard (you can easily just afk and do something else while your choco auto runs to last place).

It's especially crazy to think of someone spending MGP for choco feed, esp. the grade 3 mgp-only feed. Instead of racing another 30-50 times to break even for the feed, why not... not do that? And just play Triple Triad for MGP instead?

It would make more sense if the reward for top 3 was significantly increased, and the reward for last place was minimal. It's already odd that you make a crazy profit just by entering (unlike TT where it's possible to lose MGP), and even more odd that it's easier to win TT (not to mention faster) yet the reward for TT is significantly higher.