It’s missing the main, enduring schisms and heresies from the first millenium for one (Nestorianism, non-Chacledonians, etc.). There are also plenty of other small schisms and heresies going off of pretty much every branch that are left out.
It also falsely implies these are common, or equal branches of one tree. In truth, all but one of those branches should be seen as cut off from the one trunk–the one Church perdures as one by the promise of Christ.
Ultimately, what is wrong with it, is that all the baptized should be in faith, in the one, holy, catholic, and apostolic Church. But as the Scripture states, “there must be also heresies: that they also, who are approved, may be made manifest among you.” (1 Cor. 11:19)