Nobody ever clicks that among all the useless junk around it. It should be right there after clicking the three dots already, which already shows basic details about the page. It's not a submenu dropdown anymore like it used to be. Nobody's ever gonna even look below the first paragraph where the main buttons are.

If they wanted to make this any useful at all, if it's so hidden already, they should have made it index the particular archived page revisions list, and display direct links to them along with the date they were taken. Just linking to IA search in the generic way is not gonna help anyone, especially that the page might then turn out to not be archived at all to begin with too.