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Originally Posted by King Glorious
Requiring a sire or dam to wait until they were five or six wouldn't make sense to me. If a horse is fragile and is going to be passing fragile genes, it will happen as a 5yo just as it would if he was breeding at four. Also, while there are plenty of horses that are retired sound that could have continued racing, there are still those that suffer actual injuries that preclude them from racing. It's unfair to the owners of those horses to make them wait if they have a 2yo or 3yo that can't race and earn any money in any other way. And this doesn't even get into the area of insurance.
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By requiring the horses to race until five it would provide less incentive to breed any horse that won't likely last until five which will alleviate all the other problems you mentioned. No longer would getting fast 2yos and retiring them early in their 3yo season with an injury be as profitable and demand would fall for the sort of stallions that produce those runners, the exact sort that are weakening the breed.