Yeah, way too simple, and lacking information.
-For instance, what is R's value?
-What is the voltage regulator's output voltage?
Other concerns...if the primary voltage dissapears, the load will attempt to power up from the battery. But that series resistor will drop a lot of voltage (depending on the load current, of course). A schotky diode (anode to battery) must be included in parallel.
For those reasons, I would hesitate take this circuit at face value.
EDIT; After reading the link provided, I see that my two first concerns are addressed in the article. However, the diode in parallel with the resistor, does not.