https://www.sigarch.org/the-unreasonable-ineffectiveness-of-...
However, it's certainly possible that the time for this idea has come. Google is probably in the best position to apply it.
I will say that after having worked at Google for over a decade, some of it on data center performance, there are plenty of inefficiencies that have nothing to do with algorithms or code, but have more to do with very coarse-grained resource allocation. In other words, they are "boring management problems" rather than sexy CS problems.
I should also add that you're expanding the claims made in the paper, which appears to be a common mistake. If you look at the related work and citations, you'll see that it's mostly about B-Trees, bloom filters, and indices. But I have seen people generalizing this to "a revolution in systems research", which I don't believe is justified.
Indexed data structures are important but a revolution in them is not going to cause a revolution in all of systems. Off the top of my head, the general area of "scheduling" (in time and space) is probably more important and more potentially impactful.