Fusion energy was actually making rapid progress in the latter half of the twentieth century, going from almost no power output in the fifties and sixties to a power output equal to 67% of input power with the JET reactor in 1997. By the eighties there was plenty of experimental evidence to describe the relationships between tokamak parameters and power output. Particularly that the gain is proportional to the radius to the power of 1.3 and the magnetic field cubed. The main caveat to this relationship was that we only had magnets that would go up to 5.5 Tesla, which implied we needed a tokamak radius of 6 meters or so in order to produce net energy.
Well that 6 meter tokamak was designed in the eighties and is currently under construction. ITER, being so large, costs tens of billions of dollars and requires international collaboration; the size of the project has led to huge budget overruns and long delays. Recently however, there have been significant advances in high-temperature super conductors that can produce magnetic fields large enough that we (theoretically) only need a tokamak with a major radius of about 1.5 meters to produce net gain. This is where SPARC (the tokamak being built by the company in the article) comes in. The general idea is that since we have stronger magnets now, we can make a smaller, and therefore cheaper tokamak quickly.
Small tokamaks do have downsides, namely that the heat flux through the walls of the device is so large that it will damage the tokamak. There have been breakthroughs with various divertor designs that can mitigate this, but to the best of my knowledge I'm not sure that CFS has specified their divertor configuration.
This was just a short summary of the presentation by Dennis Whyte given here [0]. I do not work in the fusion community.