The angle shown in the picture is a valid angle for very small diameter holes -especially if you had an insert with little/no relief. The angle you use also depends a lot on the style insert you use. Inserts are available with positive, negative and neutral relief. Also, folks commonly hold bars with a split sleeve. The other day, I had a deep bore with a skinny, short bar and I could only hold it in a regular holder that had a V-notch in the base but, I could only get two screws on it. Made a terrible racket at the start but got quiet when the hole opened-up a bit. That's the way things are sometimes...
Maybe you'll come to like it once you experiment -maybe not. I have some boring bars that I'm not crazy about but, I keep them around...
Oh, often times when I bore, I run the lathe in reverse and cut on the other side. It's easier to setup the cut and spot-check inspection is easier to see. That could very well be another advantage for having those flats positioned where they are.
Ray