Saratoga Cancellation P5 Refund

[Molesap]

So after the cancellation at Sar, with the P5 bets, they just gave everyone refunds. It hardly seems fair that they completely refunded the pick fives one leg into the sequence. Unless I am missing something, after the first leg, the equity of those without the winner is essentially 0, so it does not seem right that someone who did not pick the winner in the first leg would get a full refund. That seems like a strange policy. What am I missing?