MaxIf without using an array formula

On this forum (and elsewhere) I had only seen MaxIf when using an array formula:
=Max(If(CriteriaColumn=Criteria,Values,0)) entered with Ctrl+Shift+Enter

I basically stumbled on a way to get a maxif formula to work without array-entering it, by using Index:
=Max(Index((CriteriaColumn=Criteria)*Values,))

It returns the desired results; a maximum by criteria. Attached is an example workbook showing it in action.