This isn't a complete answer, but consider a series of data points describing a line. E.g., (0,0,0,0), (1,1,1,1), (2,2,2,2), .... It's possible to have lines even in any n-dimensional space, but the data is "high dimensional" -- you're using a large number of variables to describe a fairly simple process.
Contrast that example with any sufficiently large, uniform sampling of the n-dimensional unit cube. The data is inherently high dimensional, and any attempt (attempts from a certain class of allowed methods -- no need to burden ourselves with the details) to reduce from n to k<n dimensions will throw away some important information about the structure of the data.
Interestingly, it's very possible to have a low dimensional representation of a high dimensional process. One of the other comments mentioned the example of a photograph representing a 3D scene (also containing a week, implicit view into some other variables like temperature). That transformation from 3D->2D is inherently lossy, but for some kinds of problems a finite sampling of a low dimensional representation allows you to uniquely reconstruct a high dimensional data representation. I haven't read the article yet, but the other comments seem to indicate something of that flavor happening here.