"72o is the worst Hold'em hand" - How?

[aujoz]

Repeatedly, I hear people say that 72o is the worst starting hand in Texas Hold'em.

On what basis is this true?

More info:
The Chubukov hand rankings (and most full listings of all starting hands that I've seen, which, admittedly, focus on HU situations) list 32o as the worst.

Obviously, in a HU situation, 72o will beat 32o in the long run. Presumably, however, 32o gains extra equity in multi-way pots that 72o doesn't get (as a result of straights). Where is a listing of hands that puts 72o last?