
Overall the instruction count is a good metric in the vast majority of cases.

Also shaders which contain loops that are not unrolled will not be represented accurately by the instruction count, this is mainly an issue for vertex shaders. For example, a shader with 16 instructions, all texture lookups, will be much slower on all platforms than a shader with 16 math instructions.

Only instruction count is used to calculate shader complexity, which may not always be accurate. In general, it is used to test overall performance for your base scene, as well as to optimize particle effects, which tend to cause performance spikes with a large amount of overdraw for a short period of time. It is generally a good indication of how performance-friendly your scene will be.

Shader Complexity Mode is used to visualize the number of shader instructions being used to calculate each pixel of your scene. Console command: viewmode shadercomplexity
