It also presents a front-end solution (fuzzy-text matching for @'ing someone's display name in a Slack channel) but does nothing to address the ever-present back-end need to actually validate that a client is who they say they are.
There's a good reason you can't make your bank username 𝕥𝕙𝕖 𝕜𝕚𝕟𝕘 , and it's not "because developers are anglo-centric and intrinsically against all the wonderful individual expression and identity that Unicode could bring us."
Since the article mentioned Punycode, I actually think the current implementation is an elegant solution to a real problem. Of course we should enable folks from anywhere around the world to experience the Internet in their native language. That's the reason the Chrome algorithm to determine whether to show Punycode is so complex - it has to carefully balance the desire to show text the way it was intended while considering that it might be a malicious attempt to phish someone using characters outside their typical locale. In this case, the front-end solution of asking the user "which google.com from this list of two identical-looking google.com's is the one you want" just won't fly.