Good question! I'll ask in the WTFWTK thread. Hopefully we'll get an official answer.
Official answer? #
Bugul Noz: The Glorious Hunter
"So why Oo-Lar? The answer is simple. We really couldn't afford to put boots on He-Man, or sculpt exciting new bracers or armor components. We're just too broke. In a first for any figure- bare feet."