This calculation is wrong. For example searching for HTML[1] reveals different versions of the same document, various informative notes ("HTML5 Differences from HTML4", "HTML/XML Task Force Report"), things no one uses like XForms, and other documents that really shouldn't be counted.
I looked at the full URL list[2] and it includes things like the HTML 3.2 specification from 1997[3]. A quick spot-check reveals many URLs that shouldn't be counted.
I'm reminded by the time in high school when I mixed up some numbers in some calculation and ended up with a door bell using 10A of power. The teacher, quite rightfully, berated me for blindly trusting the result of my calculations without looking at the result and judging if it's vaguely in the right ballpark. This is the same; 114 millions words is a ridiculously large result, and the author should have known this, and investigated further to ensure this number is correct (it's not) before writing about it.
I wouldn't be surprised if the actual word count is two orders of a magnitude smaller; perhaps more.
[1]: https://www.w3.org/TR/?title=html
[2]: https://paste.sr.ht/~sircmpwn/fd74cf95eb6c1740f4af3aaaf2a0f4...