Yes, that's part of the tradeoff between (what could theoretically be) actual machine code and pseudocode. The other advantage of a language like MMIX is, as another comment stated, you can't ignore things in the cost model. This allows more precise calculations of what the runtime of these algorithms is.

OTOH, pseudocode is easier to understand, partially because you don't have to think about some of those extra things that don't actually matter in the cost model. For an expository text (and, TACOP is an expository text), I think MMIX comes down on the wrong side of the tradeoffs.