Just so stories can be thought provoking, but I'd prefer it if people writing them made it clear what they are, since they can often lead to muddled ideas rather than clarity. The tone of this article bugged me a little.
I've also heard this story before, and if you google you will see there are many alternative explanations, for example that red paint was chosen because it is a fungicide rather than because it was most plentiful. Why add any pigment at all, if cost is the issue?