Horses/Color/Induction/Exercise

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In the following argumentation, we prove by induction that all horses have the same color.

"Let denote the statement, that any horses have the same color. Base case: If only one horse is there, then this has a certain color and the statement is true. For the induction step, suppose that in each collection of horses, they have the same color. Let's now consider a set of horses. If we take out one of them, then by induction hypothesis, all the remaining horses have the same color. If we take out another horse, then again the remaining horses have the same color. Therefore, also all horses have the same color“. Analyze this argumentation.