Myers argument only shows that the decompression algorithm, i.e. the route from the genome to brain, is insanely complex, but it doesn't say anything about the actual complexity of the brain. So in essence, yes, if we would choose to model the brain in a highly compressed form like the human genome we would potentially need a computer that could model it's own subatomic physics, but that's not likely the way we would want to approach this.
Anyways, this doesn't mean that the brain isn't very complex and impossible for us to model at the moment. They main question is how long it will take for us until this complexity is manageable (if ever).