There is even a paper by Levy & Goldberg from 2014 that shows that skip-gram with negative sampling implicitly factorizes a PPMI word-context matrix.
But Mikolov's formulation is very nice in that it is a simple linear model that allows for a very simple Hogwild optimization that worked very well/fast on multi-core CPUs of the time.
If I remember correctly, I read somewhere he initially had a hard time getting the word2vec paper accepted at a conference.
[1] https://armincat.com/articles/ai-agent-executed-same-query-2...
[2] https://bottlecapai.com/post/thinkingcap-qwen3-8-flash-next/