It kinda does. But the problem is the microblogs people post to the groups on kbin drown it out.
I followed elonjet on my instance. If I click on the main kbin page then microblog (NOT from a group, since it will filter only microblogs to the group) and scroll I will find the elonjet updates along with all the other stuff people probably mistakenly posted by clicking + and then add post instead of add thread (probably because reddit called them posts).
So it does work correctly. If you filter out all the microblogs that were probably posted by mistake.
Oh and you can get directly to only the specific content by clicking your name in top right, profile, followed and choosing the followed user. You'll see all their posts there.