Stopping early used to be how you attacked the car ahead, and it is now mostly how you stop the car behind.
The undercut has quietly become a defensive move
The undercut was born as aggression. You stop a lap before the car ahead, put on fresh rubber, run one flying lap while they are still on old tyres, and emerge in front. Clean, obvious, satisfying. It worked because fresh tyres were worth far more in one lap than the pit lane cost you.
That arithmetic has shifted, and I think most commentary has not caught up. Modern compounds often need a warm-up lap before they give anything, which eats the advantage. Pit lane time losses on many circuits are large. Meanwhile the car in front sees your stop instantly on the timing screen and can respond on the very next lap. The window in which the undercut works has narrowed to specific tracks with short pit lanes and tyres that switch on immediately.
What has not changed is the fear of it. And fear is where the tactic now earns its keep.
Watch a race with two cars close together and you will see the leading team stop first, defensively, purely to remove the option from the car behind. They are not gaining time. They are spending a stop early, accepting a longer final stint, in order to control the sequence. That is a defensive commitment dressed as an attack, and it frequently costs the leading car track position later when its tyres run out three laps from the end.
I would argue teams do this too often. The instinct to cover is powerful because the failure mode is visible and embarrassing: you get undercut on live television and everyone can see it. The alternative failure, running long and getting caught at the end, unfolds slowly and looks like bad luck. Strategists are human and they optimise for which mistake they would rather explain.
The overcut is the neglected sibling. On a track where the tyre warms slowly and traffic is thin, staying out on old rubber in clean air while your rival struggles through the out lap can be worth more than the fresh set. It requires nerve, because for two laps you appear to be doing nothing.
The deeper truth is that pit strategy is a game against a specific opponent, not against a lap time model. The right answer depends on what the other side believes you will do.
Cover a threat that does not exist and you have beaten yourself.
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