Coach K's been bounced in the first round 3 times in recent years.
Kentucky went like 15 years without a final four.
Nothing's guaranteed in 40 minutes of single elimination.
Nothing too surprising about KU losing to an under-seeded Wichita St team that had desperately wanted a shot at them for years.
The year before, Embiid's injury turned a final four contender into a fairly pedestrian team (For perspective, when Kentucky lost their top player/rim protector, they missed the tourney altogether).
The year before that, Elijah Johnson single-handedly blew a double digit lead in 1 minute due to foolishness.
If you have a strong hunch that Frank Mason will blow a double digit lead in a minute, or that Perry Ellis is going to suffer an injury, then yes... KU would not be a strong final four bet.