It obviously depends on your threat model. If you don't have any accounts with too sensitive information and you can stash the paper somewhere reasonably safe, then sure. My big issues with this are:

1) People suck at making their own passwords and this encourages bad passwords and password reuse. 2) The article admits that paper alone isn't good enough, but suggests that having "four password storage methods" is the optimal solution. That seems... unwieldy. Storing the most important (banking info, email) passwords in your head is a recipe for password reuse or getting locked out of your account.