Its supposed to be a test for new boards - the majority of gaming titles DX9 board will operate on will be using DX8 features, and that is what they are representing. However, I even documented that I would have preferred to have seen a more far reaching DX9 benchmark generated via HLSL instead of the rather pointles DX7 benchmark - even if that were the case I doubt that they would have used extended PS2.0 as most games are not likely to go that far either - performance on that number of instructions is poor, and the majority target for DX9 support is R300. As with previous revisions you are likely to see most game developers (I'm sure there will be some that use the extended support) target to withing the lowest common demoninator of the API in order to hit the widest range of boards.
And, so what if R300 does have support for PS1.4 - thats immaterial to Futuremark since PS1.4 is just a part of the API. Everyone is free to add dedicated support if they wish. If you really want to winge at someone, winge at MS for including PS1.4.