It's not just in response to bradycardia. When I was intubating on the NICU, I was pretty surprised that these kids didn't tach away as I approached the trachea (these kiddo's weren't always sedated). Moreover, the signal that a particular attempt was OVER was the kiddo's bradycardia, not desat. Now, I know that a kid's CO is principally derived from their HR, but there is usually room to go up...
I read somewhere about the "dive" reflex of neonates. That is, with hypoxemia/airway stimulation, the cardio-respiratory stim is centrall shutdown, that to a brain-stem-level reflex present in neonates of other species as well. Seems to share similarities with the dive-reflex of sea-mammals who need to conserve O2 underwater. Furthermore, could be an exageration of vagal reflexes seen in older kids/adults. Perhaps then in kiddos the dive reflex simply outperforms the sympathetic response...