Who's going to have a harder time playing their range and realizing their equity when we go 4-way to the flop, hero or villain? It's a rhetorical question because it's unequivocally villain.
If he's playing 55+/AQ+/KQs and the flop comes Q
8
3
he's going to be playing completely face up in a 3! pot. He's going to c-bet when he has AQ/KQs and sets and x/f when he has something like 66.
So he's going to be x/f tons of flops and we get perfect information before we decide what to do. If he x and UTG+1 x and BTN throws out some 20/40 bet and we're sitting here with two overs + BDFD + BDSD we can put in a raise knowing we've got ~30% equity when called vs. any one-pair hand that doesn't share our kickers plus an additional chance to fold better OTT.
Further, it's a lot easier to flush over flush somebody when there are 4 players in the hand as opposed to 2. And we really get to take villain to value town on Axx Kxx and Qxx flops when villain starts betting. If you're worried about balance at 1/2 (lol) and that villain will think
"he can never have the nut flush here cuz he flats AKs" then 3! A5s/A4s and you've now doubled your nut flush combos.
Frankly, given the fact that we are 400 BB's deep and OOP I'm inclined to just flat AKo as well and play a super high SPR pot with relative position. We are setting ourselves up for massive mistakes when we raise to $60, villain defends because he's obviously never folding his UTG range to a 3!, and now we're sitting at a 5.3x SPR flop OOP with a face-up range vs. a good player's tight UTG range with
*AT MOST* 50% equity.
AKo OOP 400 BB's deep with relative position and a 20x SPR is a good outcome and the cautious way to play a hand that will rarely improve beyond one pair.
AKs OOP 400 BB's deep with relative position and a 20x SPR is a great outcome.
Nobody advocating for a 3! has bothered explaining how they plan to make any money in this spot.