But in the infinite series of possibilities summing to 1, why should the hypotheses with the highest probability be the ones with the lowest complexity, as opposed to having each consecutive hypothesis having an arbitrary complexity level?
gjm's explanation is correct.
I don't know to what extent MIRI's current research engages with Solomonoff induction, but some of you may find recent work by Tom Sterkenburg to be of interest. Here's the abstract of his paper Solomonoff Prediction and Occam's Razor: