The Small Picture shows how a small team or small team of teams can work in a relatively simple organisation. Covering the bottom half of the H-Model the Small Picture is likely to feel reasonably familiar to small teams.
Although the Strategy and Portfolio elements are not shown in this simple case there is no reason why Product development can't directly deliver strategic goals, with or without a portfolio management layer. If there is more than one product in development, then there is a Portfolio but it may be managed implicitly until there are more than a handful of projects. Bear in mind that Organization Structure significantly affects culture, ways of working and decision making even in seemingly simple cases.
The Small picture shows how simple agile/continuous teams operate within the H-Model. It is possible to directly map Scrum, Kanban and other processes onto the small picture. If you don't have many systems of systems that need to integrate with each other in a large complex organisation then the small picture, with some elements of Strategy are probably enough for you. If you do need to scale agile and lean practices throughout a larger or more complex organisation then the Big Picture has more elements of the H-Model and may be more useful.