No....he lost because the other guys were better. Haney, Wheeler, Levrone had everything Ray had and were much bigger. Of course he was going to try to get the judges to look for the smaller man. He was good, but not top ten all-time.
No way.... Ray was better than (meaning more consistent) than Wheeler and Levrone. I also believe he beats Haney in a posedown.
I don't like comparing who is better in different eras. I think Shawn Ray had a better physique then Arnold, but they are in different generations. Flex had the best physique I have ever seen (for one show)
Shawn Ray personified hard work. He never showed up out of shape, and you could argue he was at his best during the end of his career. He may not have an Olympia title, but Shawn Ray is absolutely in the all-time top ten, ever.