Firstly, I'm assuming you are looking at the app/steam game stats, and those aren't really correlated to the meta I play in, where we have stuff like colonies and turmoil that massively buff space and really hurt terraformers due to not giving them equal support.

But that aside, if you break down that statistic, you'll find it's not really meaningful. Because someone who only invests in MC production would lose overwhelmingly, but so would someone who doesn't invest anything. It's super important to get an economy going, but also to then know when you have an economy and need to start moving towards paying it off. Thus, bad players will have more MC production, simply because they aren't taking those final steps. That doesn't mean MC is bad; it just means bad players are prone to overinvesting in it, thus saturating the high end of the scale with data from bad players.

As for why heat is lower value than it should be, it really comes down to a single thing: TR is overvalued; the game considers it to be 1VP + 1MCP in value, which is technically what it is, but those two have massive anti-synergy that makes TR less valuable at any given point in the game than an equivalent investment in either resource would be. As such, I consider TR closer to 7 value rather than it's assigned 9.

From there, step back to heat: Heat is 8 heat to 1 TR, or 8 heat to 7 value according to my calculation. Thus, 1 heat has an approximate value of 0.875 (with MC being 1 value).

Is that undervaluing heat? Maybe. But I'd rather undervalue heat and end up with terraforming being stronger than space than the other way around, which is what it currently is in all-expansion play.