"Severe" is a bit over-dramatic. To be accurate, from the article:
Checkm8 requires physical access to the phone. It can't be remotely executed, even if combined with other exploits
The exploit allows only tethered jailbreaks, meaning it lacks persistence. The exploit must be run each time an iDevice boots.
Checkm8 doesn't bypass the protections offered by the Secure Enclave and Touch ID.