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Apologies if this has been discussed before, I did undertake to do a thread and forum search but didn't really find anything.

The application of the SP note seems inconsistent across various hockey products. Sets like MVP use it, but not flagship.

By my math (using this years hobby box config)

- one out of every 19 physical base cards is a Young Gun. Packs have 12 cards, every 2nd pack has a YG. The pack with has 10 base including the YG, the pack without has 9 once the other inserts are included. Note I'm unsure if Canvas Young Guns count towards your YG per allocation or are considered other inserts, just ignoring them for simplicity

- in terms of the checklist,YG's are 1 out of every 5 cards (50 in a set of 250)

thus the YG per card print run should be approximately 20% of a base card.

Is it just because 'everybody knows' they are lower print . Are they not 'rare' enough to warrant it, and if so are the short prints in sets like MVP really rarer than 20% of the larger print runs to justify getting the designation? Is it to avoid confusion with the even rarer SP'S in the set like the photo variations ?

Young Guns and Marquee Rookies are long running subsets that have a standing in the hobby. it is understood that these are SP'd. Most sets have Release Notes that discuss this (and if they don't, should be added). The User guide also talks about using YG, RC for those cards. In essence, these are specialized cases in their handling. Rookie subsets, like the MVP case you mention, aren't always SPs. Amongst other things, it changes per release and the same subset naming is used across MANY sports that don't have the same meaning.

I'm sure more experienced members may have a better explaination.

Usually if the insertion rate is covered in the Release Notes, it doesn't always get added to the cards themselves, and anything with a serial number or print number is already assumed to be "short print", so we never need to note anything like "SP, SN4000".

No, you nailed it. YGs are known short prints, so the "YG" note already covers it and an "SP" note would be redundant.