If an option on over 50% of the ballots nevertheless has the smallest number at the top line (perhaps a very popular second-place choice, with one first-place supporter), it will be removed from the ballots. This is why IRV fails the
monotonicity criterion: the option was removed because it had first-place supporters instead of second-place supporters, so rating their first choice higher was responsible for its loss. (A ballot with all its options removed will mean the entire ballot is removed, lowered the number needed for a majority of ballots; so IRV will still come up with a winner).