Yes this is a bit confusing and badly explained by the website. The equivalent lithium content is just a measure of how safe the battery is supposed to be for transport purposes.
Indeed confusing. "Equivalent lithium content" - btw., the Battery University site is the first time I hear about this term, and I have been reading through transportation safety regulations, never seeing it; they always use the Wh capacity rating which makes more sense - , makes an abysmally poor indicator of the transportation safety, because, well, the lithium itself has absolutely nothing to do with the safety. Hence, it's just a
completely arbitrary parameter which happens to correlate with the battery
size and hence, its destructive power. The confusion now ensues, because for some other battery types, lithium content
is relevant, not arbitrary.
Copper content, aluminium content, or graphite content could be used as well - or even easier, just the full battery weight, which would be trivially easy to measure (at least when the cell-to-case ratio is high). The Wh capacity rating works at least equally well, if not better, and creates much less confusion.
Of course, once someone figures out how to make the chemistry itself considerably safer (so that the only remaining risk is external electrical short, which is trivial to protect against with internal fuses), then the Wh rating stops being relevant as well.
If regulation based on "Equivalent Lithium Content" is really a thing, then this is a textbook example of people who have no freaking clue what they are dealing with coming up with regulations that, for a layman, externally look very scientific and well-based due to the usage of nice abbreviations, made-up tech terms, and worst, concepts that require special measurements and specific math to be applied. A classical example of pseudoscience.