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Probably a better term would be "unsupervised learning". For example, deep learning and various clustering algorithms allow us to figure out whether the data had any sorts of non-temporal regularities. Or we may try to see if the data predicts itself - if we see X, in Y seconds we'll see Z. That doesn't seem to be equivalent to considering infinitely many hypotheses. In Solomonoff induction, hypothesis is the algorithm capable of generating data, and based on the new incoming information, we can decide whether the algorithm fits the data or not. In unsupervised learning, on the other hand, we don't necessarily have an underlying model, or the model may not be generative.
I think it's useful to think of the parameter-space for your model as the hypothesis-space. Saying "our parameter-space is R^600" instead of "our parameter-space is all possible algorithms" is way more reasonable and computable, but what it would mean for an unsupervised learning algorithm to have no hypotheses ... (read more)