This question has been around for a while and I've heard both sides of the argument several times. A case could be made for folding if you are at a table that is easy to run over and double your chips safely.
Well, with the presence of Ivey and Hansen, you can forget the easy double up, lol. If you think of it in these terms it will help:
About 6 out of 10 WSOP's you'll start with 20,000 in chips. That should increase your equity enough to override the fact that 4 times out of 10 you'll be walking back to Houston.
In order to win the WSOP you pretty much have to put yourself in several positive equity positions and hope that you come out ahead. Making mathematical errors where you continuously fold while getting the best of it will catch up with you in the long run.
I would say that a 60% favorite is too good to pass up, while something like a 55% favorite is something you could argue is a fold you could make. Again, that's provided that you are at a weak table.

You have pretty close to nothing invested on calling a huge raise. Regardless, why gamble on something your barely losing anything on?