Well, at first, I looked at the linked sight and it wasn't what I was used to. CQB? What kind of marketing nonsense is that, wait, maybe not.
Close Quarters Battle is a known problem area for targeting with the M16 - the sight line is offset pretty high off the barrel axis and there is a corresponding offset in the point of impact at close range. It's the singular subject of some combat carbine courses specifically held for LEO/Mil who encounter it. Training costs money.
But, all it takes is a flip down sight to adjust the sight line and point of impact to correct it. If that seems to be a bit much, still, lets not forget the flip up/down rear sight on the M16 is exactly for that - one is for 0-200, the other for 200-800. The aperature size is different in the close sight for better vision, especially in low light, the long range is smaller to gain accuracy.
If the target is less than 50 meters and moving, an open top rear sight would be even better, especially set up to correct the high sight plane offset of the M16. Nice to have.
Some day we'll get a pushbutton 2x power on a red dot and enjoy a similar convenience.