The 'original' branching method for Mercurial is called Named Branches. The big difference with Git is that every commit is labelled with what branch it is on. This has advantages - if you imagine looking at the train track of 'master' in git with it's divergence for a few commits and then merge, you can see that the 3 commits were on a branch called 'performance', whereas with git that history is completely lost. See: https://www.mercurial-scm.org/wiki/NamedBranches
As usage of git grew, the git branching model gained popularity and so the Mercurial bookmarks extension was created (https://www.mercurial-scm.org/wiki/Bookmarks).
It can be seen as a downside that there are two branching options that you have to choose between.
[1] Sadly the popular hginit.com seems dead, this was my first introduction to Mercurial. https://web.archive.org/web/20180722012242/http://hginit.com...
[2] https://stevelosh.com/blog/2009/08/a-guide-to-branching-in-m...
But stuff like: "hg log" gives you _every commit in the repo_?? When is that ever useful? How do I get only the commits that lead to the current state of the repo? Mercurial doesn't have branches; instead you're supposed to _copy the whole directory_[1] at the filesystem level?? Of course this is ridiculous, so they invented "bookmarks" which are actually Git branches. The extensions thing you mention is also a ridiculous chore. Just have sane defaults. I also found hg's output very dense and hard to understand and read, poorly suited for human consumption.
I dunno. I'm sure Mercurial is fine, many people use it every day, and likely my strong Git bias was affecting my ability to learn Mercurial. But I found it far easier to just clone into Git, use Git to do source control, and then export back to Mercurial when I'm ready to share my work.
[1] https://www.mercurial-scm.org/wiki/TutorialMerge