To me it looks like the breeders were more aiming for color and pattern. Some of the stallions had some 70 foals and only 1 ever shown. So that tells me that despite the amount bred, they weren't performance or show horses.
There's some cow bred horses in there a bit far back, but nothing immediate enough to promise anything solid.
But. The breeding is only as good as the product. If YOU think the horse has potential and he goes on to be something, then it doesn't really matter how far back those lines were.
Riding: The art of keeping a horse between you and the ground.