Sure... when you have pocket aces, the equity in the hand drops %10 every time there is another player in the hand...so if there are 5 other players in the hand, your equity is below %50, since it is about a 85/15 favorite playing heads up.
It's just easy to imagine in this situation that if somebody else has pocket pairs , at some point they are going to hit a set, or suited connecters will get 2 pair, flushes, straights,etc.
250 play chip 90 men sng's are about the dumbest online tournaments you can possibly imagine. If u fold ur 1st 3 hands, about a 1/3 of the other players will have already been eliminated. I've actually been able to fold all the way to the final table.