While the article does offer pros and cons of this practice, there’s nothing in it to suggest the author has ever been a freelancer and used the approach. Instead he seems to be writing from the perspective of someone who’s used freelancer services in exchange for what sounds an awful lot like the tech version of “exposure”.
I’m sure someone can make a good argument for why the approach can be valuable under certain circumstances, but I’m not sure what makes the author an authority on what works best for a freelancer.