I think most of their observations are fair, and a majority of the process they envisioned has indeed come to pass, although I think it misses some components and they underestimate the additional labor requirements and costs. For example, I could learn the basics of typesetting but it would likely cost the journal as much in my labor costs as it does for us to have an external vendor do the work. I would also have to get these manuscripts converted to XML and XHTML. I can assure you, our typesetter does all of this much better than I ever could. The division of labor needs some respect here. The subtext of this comment is that there is a lot of skilled labor involved in publishing (even in this day, with the flourishing of new tools and technologies).