I have no problem with your numbers, when you are talking about a load (steel beams, heavy equipment on a full length steel skid) bearing down on the risers in compression. No problem at all.
But if you look carefully at the bottom corner of that bottom pallet on the right, you can see it's not lined up in compression, as they would be if the ingots bridged between the risers.
The ingots do not extend over the risers. There is no bridging effect, or very little. MOst of the load is in SHEER where the horizontal floors meet the vertical risers.
As you know, the horizontal wood's sheer strength is only a fraction of its compressive strength.