The estimated time to ready an article highly depends on the purpose of the article.
If it's some quite of news, that fine.
If it's a tutorial about code, with complex concept to understand, many code sample you have to analyze, the reading time is so dependent on the reader's background on the topic.
So I would say that this is an interesting indicator but it depends on what kind of website you are talking about.
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The estimated time to ready an article highly depends on the purpose of the article.
If it's some quite of news, that fine.
If it's a tutorial about code, with complex concept to understand, many code sample you have to analyze, the reading time is so dependent on the reader's background on the topic.
So I would say that this is an interesting indicator but it depends on what kind of website you are talking about.