What if blind levels were 50/100 and he min-raised to 200? Can we reraise to 600? Can we flat?
The whole UTG min-raise is always interesting- the funny thing is, I'd think that as blinds got higher, we should be folding more. For example, if blinds were 100/200, and he min-raised to 400 with an 1800 stack, wouldn't it be MORE likely he has a monster, not less?
If the blinds were higher, we want to be folding
less. If he min-raises to 400 with an ~1800 effective stack, there will be 800+ chips overlay on our raise (so we raise to +1400 after the 400 chip call). Thus, we need less
equity in the pot, so our AQ becomes more of a monster (re: if he raises to 200 and has 1600 behind, we need more equity because the overlay is only ~400 chips, whereas with ~800 chips and 1400 behind, we don't need as much equity and should be jamming wider).
In sum, the more dead money there is in the middle (in most examples the blinds, or limpers who have folded, or guys that have a wide range and will most likely fold, but have yet to act), the less equity we need to have to justify our jam, and by extension the wider we can shove.
Trivial example:
-If the blinds are 1/2 and we have 2000 chips, the guy raises to 10 chips, we only get 23 chips of overlay if we jam (the blinds, the guy's bet, and our "call"), and we're jamming 2000 chips, so we're gonna want v. close to 50% equity, or more.
-If the blinds are 100/200 and we have 2000 chips, the guy raises to 600, we get 1500 chips of overlay if we jam (the blinds, the guy's bet and our "call"), so we can have < 33% equity in the hand (meaning we can have a wider range).
If you're concerned that the guy is opening really tight because of the high blinds, he's still not going to be opening tight enough for our jam with AQ to be -cEV if the blinds are that big.