I disagree with some of Football Outsiders' stuff, too, but your criticism is misguided and/or inaccurate.
First of all, it's not their statistic. It's from a book that was published in 1988.
Secondly, plays don't gain "4.5" or "4.49" yards. They gain 4 or 5, and nothing in between.
And lastly, they award fractions of points for the yards gained, so your example wouldn't be true. Here's how they explain it: "We then expand upon that basic idea with a more complicated system of success points. A successful play is worth one point, an unsuccessful play zero points. Extra points are awarded for big plays, gradually increasing to three points for 10 yards, four points for 20 yards, and five points for 40 yards or more. There are fractional points in between. (For example, eight yards on third-and-10 is worth 0.63 success points.) Losing four yards is -1 point, losing 12 yards is -1.8 points, an interception is -6 points, and a fumble is worth anywhere from -1.70 to -3.98 points depending on how often a fumble in that situation is lost to the defense - no matter who actually recovers the fumble. Red zone plays are worth 20 percent more, and there is a bonus given for a touchdown."
Are you sure about that? The paragraph I posted above says they do.
You do realize that it's used for a per-play average, don't you?
Four points on one play = 4.0 per play.
Six points on two plays = 3.0 per play.
So, doing it on one play is 33.3 percent better.