To me, it seems like its just a list of the most memorable horses, not necessarily the best runners. The author doesn't make any claims to picking these horses strictly on race performance.
Instead, he's seemingly biased towards horses prominent in the media (of which Funny Cide and Pepper's Pride are good examples). In that respect, his list is fairly decent, if pointless at the same time.
Some more glaring errors:
Saint Liam was unraced at 3
High Chaparral was the only 2-time BC Turf winner (also he dead-heated with a horse named Johan).
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