I think the toughest part about this applying this concept is discerning your opponent's perception of risk/reward in order to predict what they will do or mix up with so you can take advantage of it. Players don't vary options in equal frequencies or play the optimal frequencies (nash equilibrium), so changing the frequencies of your mixup options to adapt to theirs can give you a mathematical advantage.
I feel like I know intuitively how to take advantage of a player that isn't choosing a good mix of options -- just keep trying to randomize your mixup options with nash equilibrium frequencies, but sometimes you'll have bad luck or you'll get read from mixup attempt to mixup attempt, and it won't be enough to win every time.
In order to do better, you have to discern their option choices and their frequencies (something that few players can adapt) and then divise a harder counter to it, so your risk of losing to random chance is smaller (nothing you can do about getting read over and over except try to think a step further or behind). Divising that hard counter is very difficult in the heat of a match, you really have to know your stuff.
Or you could just adapt intuitively, treating each mixup like all options have equal r/r, making it no different than RPS, but if you want to specifically counter your opponent's strategy, you'll have to do some more thinking.
I'm actually still a game theory newb, so if I'm using "nash equilibrium" incorrectly, please let me know.
Another thing about mixups: they're necessarily inconsistent. True consistency comes from avoiding mixups entirely, I've seen. Though I doubt you can just wait around hoping for free damage from unforced errors using non-committal defensive options in SCV due to the guard crush system and the throw break chip damage.