Without my proposal, there is no control over the parameter: the distance is an average, and so about half the cache size. When Hand is on the far right, a new item inserted at that time will stay in the cache long. When the Hand is far left, it may get evicted almost immediately.
The only thing important for performance is a good hit ratio, however it is achieved. An evicted item is one that cannot be hit. Early eviction is not ipso facto good for performance; only with regard to some access patterns where early eviction of the right items improves retention of other items that yield good hits.