Faceman & Maura both made great points and explanations.
Being a gelding, it's a bit of a moot point though. Depending on what is close in his pedigree, it may though be an indicator of where his strong suits lie.
For me, to call them foundation, I want to see those horses within the first few generations. Many people will call one foundation if any of those old horses are in there even if it's 6 or more generations back. One of the foundation registries goes back 11 generations, too far for my taste. Age isn't necessarily a good indicator of being foundation or not. I have a yearling on the ground that will have Poco Dell, Poco Bueno, Peppy San, Due Note (son of Sugar Bars) & Beaver Creek (son of King) within 4 generations.
Ours have always been fairly heavy cutting lines. With them, they are smart, quick, easy keepers, athletic as all get out, not for the average person to train (they can easily out smart the average rider) but once they are good and broke, they are fantastic for about anyone to ride and are extremely willing and seek to please their rider. My favorite thing about them though is that they make good jacks of all trades. My old mare (that my daughter has now taken over) was a formally trained reiner and did very well at it but she was my all-arounder and did everything from wp, hus, jumped (with cleats in her sliding plates), speed events and has always been the first pick to put a green rider on when we hit the trails.
Life is like a camera. Focus on what's important, Capture the good times, Develop from the negatives and if things don't work out, Take another shot.