Well, I think we would need all the measurements, fin density, material choices, liquid volume, flow rate to compare a "270mm" '116mm x 270mm' to a 120mm x 240mm radiator.
From the KitGuru article they have roughly the same surface area, but the pump is in the radiator, and there seems to be a chunk missing that is used for the heat transfer from the GPU so I think overall surface area is smaller. Pump performance is probably not ideal, and this is a very restricted radiator. Typically one side of an AIO radiator is in open air. In this design, one side is up against the GPU and the other has the fans as intake.
So I would assume they would have gone for a low fin density vs the typical higher fin density in a typical 240mm radiator. Both direct heating from the coolant and indirect heating from the PCB and other components vs a dual slot card with an entirely separate radiator being able to be in the open air. So right there you have more area.