I agree that there seems to be some wobbliness in definitions here.
I think your citation must have an error. It says:
> In the United States, only 5 percent of the original grasslands remain; or about 358 million acres.
If I understand this right, it's claiming that there were once 20 * 358M = 7,160M acres of grassland. But the total size of the United States - everything, not just grass - is about 2,400M acres, so that can't be right.
Maybe they mean 5% of an original 358M? But no; the "358 million acres" in that blog post is a link to a conservation group report; the report is definitely saying that there are 358 million acres of grassland in the US today.
Definitely agreed that the old prairies are pretty different, especially in the wet crop-heavy areas like Iowa. But as I understand it, the dryer west, like the Dakotas and Nebraska and Colorado, are not as changed. But anyway, I'm really interested in the original topic - do we still have good carbon sinks? I would think all that pastureland would be pretty good at sucking up carbon and storing it in soil, but I don't know.