Eta-conversion is just the statement that having function(x) { f(x) }, in JS, is equivalent to having f. In short, wrapping a function in another function (or removing such a layer) makes no difference.
Like most of lambda calculus, this is extremely intuitive once described that way. Therefore, a situation for which it is false is disconcerting. It's also considered one of the "monad laws", which is the small set of rules that everyone assumes is true for every monad, but which the language doesn't (can't) enforce via the type system.
⊥, pronounced bottom, is a "value" that, if you ask for it, your program breaks. It may go into an infinite loop, or it may crash.
The GP post is therefore explaining that, because eta conversion in this case fails when the function returns bottom, we should be disconcerted. It's a mild form of disconcertion, however: Things would only go wonky if you try to run code that would, in any case, hang or crash.
The reason it isn't completely harmless is that the difference may be observable: A crash in pure code triggers an exception, which can be caught in its impure wrapper code, and a hang can in some cases be converted to an exception by the garbage collector. In theory all bottoms are equal, but in practice they aren't.