But this could be said of the main sentence as well. There is no verb in either clause.
What connects them is ἔστιν with τοῦτ᾽ referring to the entire subordinate clause.
I would also read the subordinate as relative clause with ὅτι representing ὅ τι.
This is supported by the Perseus translation (thanks for the link, btw):
What is really educational and beneficial to students of history is the clear view of the causes
of events, and the consequent power of choosing the better policy in a particular case.
Sure, but linking verbs are still verbs. Different grammarians define “predicate” differently. At least that seems to be my impression. I believe you about oti, but I can’t bear to think about “that” again. I had a thread about “that” not too long ago and it ran out of gas before yielding any great insight.