My guess is that that stat is more a measure of good chipping. The last time I saw the stats, tour pros were about 99% from 3 feet and 50% from 6 feet. This means that very small marginal improvements in chipping can really drive down their (and our) scores and putting statistics.
I think that old Dave Pelz stat of the "50%" distance is the most telling as to how a player is putting.
For PGA tour stats to mean a lot, I agree that they should state it that player X made 30 of 31 under 3 feet, 12 of 20 under 5 feet, etc. I know they have detailed distance to pin stats for various lengths of approach shots, so it could be done. And that would be a better guide to approach shots and chipping, as well. With all the computing power at hand today I think the public could stand to see better stats, even though they have been upgraded over the old days.
BTW, if there is about a 1 stroke improvement per round in the average putts, which basically accounts for the lower scores today, I guess that means that the huge increase in driving really hasn't paid off in terms of lower scores, eh? Of course, the venues are getting longer and I supsect if they played 7000 yard courses rather than 7300 yard courses, the scores would be somewhat lower still.
I know Colonial at 7000 gets lower scores than it ever had. I don't know how Harbor Town and other short courses are holding up. But, as Yogi Berra used to say, "You could look it up!' Or was that Casey Stengal? Well, you could look that up, too!