"They've got prior probabilities of 1/INF, remember? That's equal to zero. So the metahypothesis thinks it's infinitely unlikely that the fraction of times the ball goes left is exactly equal to 1 or 0. It never notices that's true, no matter how many examples it sees."
"If it sees 100 balls go left, it'll get a joint prediction of 1/101. If it sees 10,000 balls go left, it'll get a joint prediction of 1/10,001. In the limit, the probability that it assigns to a sequence of left-going balls, continuing forever, is 0. Before you've rolled a single ball, the metahypothesis is already absolutely certain that it won't just go left every time."
"The metahypothesis that the ball has a 50% chance of always going left, and 50% chance of always going right, loses all of its probability and scores negative infinity as soon as it sees any sequence with a mix of left and right balls. But if you present that metahypothesis with a sequence of balls going left forever, no matter how long that continues, it predicted that with 50% probability from the start."