It is a tiny example, but it measures something. It doesn’t handle the other performance characteristics you mention, but it has the advantage of being a basically pure measurement of the memorization ability of the branch predictors.
The blog post is not very long—not much longer than some of the comments we’ve written here about it. So, I think it is reasonable to expect the reader to be able to hold the whole thing in their head, and understand it, and understand that it is extremely targeted at a specific metric.