I believe Tononi is on record somewhere biting the bullet on that point (i.e., agreeing that Scott’s construction would indeed have high Φ, and that that’s okay). But I don’t know where, and I think I already searched for it a few months ago (probably right after IIT4.0 was dropped) and couldn’t find it.
There’s a link in SA last post on the topic: https://scottaaronson.blog/?p=1823
Thanks! Sooner or later I would have searched until finding it, now you’ve saved me the time.