I use OpenWRT's Smart Queue Management package to avoid bufferbloat. Without it, sites like dslreports.net and fast.com show that my latency goes way up under load.
However, when I have SQM enabled, I see regular red blips with this tool. Disabling SQM makes the blips go away.
Strangely, even without SQM, latency as measured by this tool does not seem to change when I'm e.g. streaming a Youtube video in the background, as I would have expected given bufferbloat. (Does bufferbloat only apply to the specific packets being streamed?)