At that point you're effectively using MySQL as a key/value store with an SQL interface, rather than a full RDBMS.
Which is, in fact, pretty much exactly what MySQL was originally designed to be and it's extremely good at it.
> If you keep things damn simple so you have confidence in efficiency and performance
I can have that level of confidence on a minimally tuned (albeit sensibly indexed, you still have to make sure the indices you need -exist- on anything, realistically) postgres at levels of schema/query complexity where getting mysql to handle it -at all- would be ... an experience.
Having used both extensively, I'd say that there's a lot of knowledge when using mysql that's basically "introducing complexity into your application and query pattern to work around the optimiser being terrible at doing the sensible thing" and then there's lots of knowledge when administrating postgresql that's "having to pick and choose lots of details about your topology and configuration because you get a giant bag of parts rather than something that's built to handle the common cases out of the box".
So ... on the one hand, I'm sufficiently spoiled by being able to use multi column keys, complex joins, subqueries, group by etc. and rarely have to even think about it because the query will perform just fine that I vastly prefer postgres by default as an apps developer these days.
On the other hand, I do very much remember the learning curve in terms of getting a deployment I was happy with and if I hadn't had a project that flat out required those things to be performant I might never have gotten around to trying it.
So, in summary: They've chosen very different trade-offs, and which set of downsides is more annoying is very dependent on the situation at and.