When Google announced the start date of the Google Page Experience update, it was also stated that a label or indicator might appear in search results to let the searcher know which pages are doing well with these metrics. Google also tested this symbol some time ago. Note, however, that this counter may never start.
Google's Martin Splitt confirmed yesterday that this label may never become a reality. Martin said on Twitter: "Can I reiterate that the badge is an experiment? It can't happen in the end. We're looking at options here, that's it."
Can I reiterate that the badge is an experiment? It can't happen in the end. We're checking options here, that's it.
– Martin Splitt (@ g33konaut), January 13, 2021
Here is a screenshot of the test with the icon:
Personally, I'm not a huge fan of these indicators. Most seekers have no idea what they mean and may be confused by the symbol. Google wants to encourage website owners to make sure they meet these metrics. Therefore, they use the ranking advantages and also a possible designation in the search results. But will the label confuse seekers? Most seekers to this day have no idea what the AMP symbol means.
Forum discussion on Twitter.