He has fought smaller guys with names he has never fought a legit 160 fighter that's the weight he should really be fighting in but he knows once he fights a legit 160 fighter he will be exposed. using your size advantage over smaller fighters with marketable names is not a cool thing. Thankfully the fans have caught up to this so early and the fans are more easily annoyed post may vs Pac
Impossible, Cotto wouldnt have fought Canelo at 160. He demanded Canelo agree to a 155 catchweight. Same with Khan, he was on record saying he wouldnt have fought Canelo at 160. He would only fight Canelo at a 155 catchweight. What you suggest was impossible. Khan was the biggest name out there for Canelo. And lets remember this was only his 1st defense of the MW title.
I agree Canelo had no reason to fight at 160, based on the opponents selected. This might be the main reason he's hesitant to jump in with GGG at the full weight limit. On the other hand, I think he wouldn't be too dis-advantaged due to his extreme weight cuts to 155. He'd possibly be even more healthy at 160. I could be wrong.