High Vds across MOSFET in saturation mode in Flyback converter during simulation

While simulating a flyback converter, I find that even in saturation mode the MOSFET, in spite of having Rds(on) around 0.74 ohms and the Ids = 5.75mA, is dropping almost the entire drain supply input voltage. The snubber circuit and the sense resister also consumes very less power.

Looks like a newbie query but I am not able to answer, is this high Vds in saturation mode expected, if yes, why? Is it because the power is a pulsating one ? Can a floating gate destroy a MOSFET? Practically I found Vds = 1.4V, does that mean the MOSFET is bad ?

DC Analysis

Transient Analysis