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An aged foundation with no points, if it's a mare, probably spent most of her time in pasture. Either that, or she has a very low PT score, even if she was a good breeder and worth keeping for that purpose.

Perfect Foundations from Foundation Rescue might also have few points because they are not shown.

As for how to pick good ones, I check their PT scores. Foundations can have scores everywhere from less than 1 up to 9.9, if ordinary creates, or up to 10.4 if they are exceptionally perfect or exceptional show horses. Horses with PT scores of at least 8.9 have the chance of gathering a fair number of points in their lifetimes.