I saw the test.
I think it certainly is valid, but only to the point at which it is intended. Unfortunately, that really isn't how things function in bearings inside a pressure fed engine.
In the test, they drip-apply oil to a running shaft, then apply a load against the shaft, and measure the amp draw on the motor as a matter of energy consumption reference.
I certainly agree that synthetic reduced friction contrasted to the dino.
But ...
Pressure fed engines run on a hyrodymanic oil wedge fed by the pump, and actually sustained by the relationship between the stationary bearing and the moving component. The test as seen on the TV show does not simulate reality, because it basically "pinches" the oil at only one point, and it is not pressure fed, but rather dragged in. A real engine develops the hydrodynamic barrier by containing the oil within its field (bearing) and using the velocity differential to push that wedge all around the bearing. Further, the oil is (as stated) pressure fed into the bearing of an engine, versus dragged in like the "test".
The TV test might be a bit more comparable to a splash-lube engine design, as oil has to be flung and misted into the bearings.
Overall, fun and impressive to watch, but not a good picture of most engines in reality, IMO.