eddy currents flow through any conductor near a magnetic field but they produce more loses in the stator
The biggest obstacle or source of inefficiency in a hub motor, I think, comes from the stator being saturated with flux due to its size not being up to the challenge of the load and it's low kv..there's more magnetism being asked of the ferromagnet than it can hold..and then not only will it start to draw more amps as it tries to overcome a load that is requiring more torque and magnetism than the small stator can hold,it will also suffer a much worse hysterisis loop due to having been saturated with flux.