[catlover]

The thing is -- when you haven't put any money in yet, you should either play your hand like you are ahead (cap) or play it like you are behind (fold). If you think you are +EV against your opponent's hand ranges, you cap. If you think you are -EV against them, you fold. It's really not possible that your hand is good enough to play for 3 bets, but not good enough to play for 4.

Gaining information is valuable, but so is concealing it. By playing this as a cap or fold, you give your opponents less information than if you sometimes cap, sometimes call 3 cold, and sometimes fold.

And yes, sometimes UTG will fold in this spot if it is capped.