I can only speak for myself but I think when people want to focus on collecting a player, or having a card represent a player in a collection, they find most ideal an early depiction of the subject-- an image from the embarkation point of a great career. The start and origin, if you will. Hence why cards issued earliest are generally more sought after in the hobby.
With the News being a minor league card, it is surely desirable as an early and rare card, yet minor league depictions are something unique and separate from the majors.
With respect to population supply, I suppose it's all relative to demand. There could only be one existing card of some common player or even semi star, but if no one is after it, not much value there. In contrast, there could probably be a hundred more Ruth M101s and collector demand would gobble them up at a high price point-- Ruth's enduring popularity seems more than up to the task when it comes to generating demand to absorb supply.
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