he had the effective second nuts (as AA is unlikely or at a minimum discounted heavily) on an extremely wet board. He's facing a 41K bet and one caller on a board that could bring any of 18 outs that are either scare cards or could beat him (any K/Q/J or spade). You can also add in another Ace to give AT a higher boat. Just calling the re-raise gives either opponent a chance to hit one of these cards. It is hard to put either opponent on exactly TT at this point as all kinds of combo draws, AT, AK/AQ, make up their range. It is also hard to put Steinberg on TT as he is just calling a raise and 3bet on an extremely wet board. Steinberg also is facing a potential 18 cards that could screw him. It appears to me that Steinberg's play is a safe attempt at pot controlling to peel the turn and see.

Ivey is going to lose most if not all of his chips here almost always. By completely shoving over the top he not only charges the monster draws to see both cards but he also potentially brings along AT (maybe sometimes even AK) as you can easily expect the monster draws to be part of his range. This large overshove actually sometimes helps keep these smaller hands in the calling range as it looks less threatening (as in an attempt to shutdown the hand). Since AA is highly unlikely, only TT beats him outright and he is already going to lose a ton of chips against TT.

He is also OOP in the hand. so what do you propose he do instead on this hand? flat call the 41K and peel a card? Check/fold if it is one of the 18 cards? Bet out if it isn't? Check/call if it isn't? Check/call if it is and draw to a full house? Check/raise all in now if it isn't? If you assume he is just going to accept that TT is a cooler and he is going to lose a lot of chips against TT then his 4bet shove all in on the flop makes sense.

Sure he can play it all nitty, call the bet and check/fold the turn. However, maybe he had a good read on the first guy and the way Steinberg played the TTs is tricky.

At worst his play marginally too aggressive or spewy. Right or wrong, he's basically fucked for a lot of chips on this hand. The action is so aggressive at times in the main event that is very difficult to ever fold the effective second nuts...

Chalk it up to a cooler....