The horse had been considered an early favourite for the race, which has been run in Australia since 1861 and is often called the race that stops a nation.
Another remark linked any error to the strain of the meeting: it is rare to make mistakes, but the pressure of race day affects everybody, with everyone on edge on Melbourne Cup Day and thinking a little differently.
Race-day treatment rules were also in focus. The application of Penetrene is generally allowed on horses, but there is a blanket ban on race-day treatments.
Point of Law’s late surge from the middle of the pack defined the finish after Brown asked the former royal runner for its effort in the straight.
The result underlined both the depth of Waller’s team and the scrutiny that follows every Melbourne Cup runner on the day the nation stops.
The Melbourne Cup carries a prize of A$10.2 million ($7.04 million; £5.3 million) and is the country’s third-richest race.
“It’s a very basic liniment most stables use and I guess the pressure of race day, the person that looks after the horse, put it on his legs right in front of the security guard, nothing to hide,” a connection said. “The horse gets the same treatment every day,” Waller said.