I grant you plenty of people have sufficient trouble understanding probabilities that they would mistake 86% for a lock, though.
Really, Trump won by a hair's breadth. 538 shouldn't have given him a huge chance to win- he just barely scraped through. It's a genuinely hard problem when the popular vote is very close, since the electoral college throws a huge chaos wrench into everything.,
Just because you end up in the 9/100 future doesn't mean that the "real" probability was 50%. It's weak evidence that Bob's win scenarios mostly didn't involve blowouts.
It's like barely winning a sprint against Usain Bolt: maybe he had an injury midway through. Doesn't mean that he and I were equally likely to win.
That's the information we have, and it's real, so it's much more valid than any poll which poorly samples a few thousand people.
Maybe it was a fluke result. But that's unlikely because the other Midwestern states had similar results. But a fluke in which direction? You don't know, so it's even odds in both directions.
Interestingly, in 2016 they thought Trump was more likely than the betting markets did. Betfair had him on about 22%. So if they were betting they'd have made a profit.
This year the situation has reversed. Betfair has 35% for Trump, whereas 538 has him on only 12%. So they'd be betting on Biden.
So yeah, a lot of people seem convinced that since the pre-election polling showed Trump at a disadvantage last time, we'll see an identical surprise victory this time. I personally think that makes as much sense as leaving your umbrella at home on a day with a 75% chance of rain because the last time there was a similar forecast, no rain fell.
I get that 538 is an HN favorite, but they are too damn politically biased for their own good.
1) https://fivethirtyeight.com/features/how-i-acted-like-a-pund...
I don't see where you've said anything that comes close to supporting such a strong assertion.
2016 was FiveThirtyEight's third time forecasting a presidential election. Getting one of those three "wrong" when they gave themselves slightly less than one in three chances of getting the 2016 election "wrong" doesn't seem at all surprising. It sounds like you're demanding that FiveThirtyEight make their forecasts deliberately underconfident but still expecting them to call the correct winner every time.