This APU is slower than base PS4, and ~2x slower than 8 year old GTX 760.
The APU is certainly not slower than a PS4, it has Zen 2 cores. The GPU might have fewer flops but it has a much newer architecture, so it could easily be faster. Just comparing flops across different architectures isn't an accurate way of determining GPU gaming performance.
Do you expect this 15W APU to be faster than full TDP Desktop AMD Ryzen 5700G? The "Fastest Integrated Graphics Ever" 13 days ago https://www.tomshardware.com/news/amd-ryzen-7-5700g-review? 5700G reaches GTX760 parity in some games like Witcher3, while in others like Overwatch its medium for APU while dedicated gpu runs same framerate at Ultra.
This is directly from valve. It's probably what Valve looks at when making these decisions. I assume this APU is relatively similar to the 1060 in power? Maybe the 1050. But I haven't seen any benchmarking around the APU.