Yeah it's kinda bizarre, players don't press in the game, to my eye they never have. They can close down the ball carrier but they won't cut off his passing options.
As for why it's so effective otherwise, I think the AI becomes more passive against teams with a high pressing intensity setting, and thus winning games is much easier.
The bit you've touched on is good though. I wonder if the AI is more attacking against user teams with a defensive setting also?