I like the article, and it certainly got me thinking, but it understates the level of skill required to revamp a poorly done website.

To make that type of money flipping sites, you need to spot the right opportunities and make all the right improvements: programming, design, copywriting, marketing, SEO, and optimizing the conversion process.

Anyone with the ability to do all these things well deserves to make money. I'm also skeptical that finding a buyer who can pay 6 figures is as easy as posting to SitePoint.