True, but I'm actually working on something on these lines and the results appear to be pretty good in terms or R:R.
For me, it doesn't matter since whatever trades that are based on this are intraday Stock Fut, such leveraged stuff isn't something for overnight.
I went into the trade at opening (reinforced with Price Action etc) and got a good trade.
Now if we can come up with such high probability trades, knowing very well, going into a trade then you'll have a very good equity curve.
I've read from the Horse's mouth that simple CAGR isn't the benchmark but your max drawdowns and Sharpe Ratio are more important over the long run.