It's not a formula, it's an example! And I said to start with that it was over-simplified.
The data was not constructed to proof any point - nor did it come out of thin air. The 2 pages was actually what I images a MFA site would do - not that I run any myself.
Feel free to use your own data to calculate it for your site (but you have way more than 2 pages I hope and way more paths that users use. Enjoy the calculation.
Changes you make are predictions in this kind of thing - unless you execute the changes and measure them in real life.
The core point I was trying to make was that you need to look at *all* your revenue (not just adsense), and *all* your pages - not just one at a time.
I was not trying to draw a conclusion as to less is more or not - only advocating to calculate it instead of guessing.