As the article notes, the largest element on the page isn't always going to be the most important one. In the first example[1], I would actually consider the page to be loaded by the second-to-last frame. In the second example[2] though , I'd agree the page isn't fully loaded until the end, despite that being a very similar situation to the first example.
Maybe a better metric would be something like "last DOM reflow" or something along those lines? Usually I don't consider a page to be usable until its content stops jumping around the screen.
[1]: https://web.dev/largest-contentful-paint/lcp-cnn-filmstrip.p...
[2]: https://web.dev/largest-contentful-paint/lcp-techcrunch-film...