It is not that 20 min is all that is needed for HIIT. It is that if you are TRUELY going at 100% on the "hard intervals", you will not be able to do much more. For example, if you can do a HIIT sessions for 60 min, you are certainly not doing the intervals hard enough. After each hard interval, you should honestly feel like your heart is going to pound out of your chest, breathing should be extremely labored, and your legs feel like rubber.
Sprinting IS very effective, and quite easy - you don't necessarily need equipment to do it. (not easy as in workload, easy bec can do it anywhere)
But it is not the only thing you can do. You can do HIIT on anything - Spin bike, StepMill, stairs outside, etc ......
Effectiveness is all a matter of what YOU put into it.