let me tell you something. The good and cheerful atmosphere at freshman speeches is something you should be proud of. It gives people spirit and a wonderful first experience. The harsh truth will catch up anyways. The speech in this article, how the OP thought it should be, is utter crap and comes from a place of total arrogance and serves only himself.
It doesn't act as an eye-opener, because the students won't listen anyways. They will experience reality soon enough and there's absolutely no need to tell them anything they can't understand at their current position. They are mentally not in the state to receive any "truthful speech". They are in a new chapter of their lives and the only bet is to give it a try. The experience of others is worth close to nothing, because they need to make experiences themselves.
Why am I telling you this? Because I'm German. In Germany, there is not even a freshman speech. What we have can be described as a big "fuck you" from some dean or whatever arrogant professor feels entitled to speak up. "50% of you won't be here in 1 year" is something you get told on first day of university. What is this good for? I haven't seen a single student saying "Oh, this guy's right, I'll unenroll right now". They HAVE to try first, because that's the choice they made for this new chapter in life. It might even be true. 50% unenroll after a while, but it's unclear which 50%.
My girlfriend is becoming a teacher. She studied for 5 years. After university follows a 1.5 traineeship at school, before she can call herself a real teacher. They have a welcome speech for the new trainee-teachers and it went like that:"Welcome, good to see you, but you won't get a job anyways." Again, a big "fuck you" to all these people who spend 5 years in this system, gave their best, are motivated and accept a lousy pay for 1.5 years with ridiculous long hours.
From my limited experience and what people told me who experienced the exact same crap in Germany, I can see this only as some self-righteous bullshit from arrogant frustrated people that serves no purpose at all but only to make THEM feel a tiny little bit better. "I'm here, see, I'm the best." Fuck you!
Be proud that it is a common practice in the US to have motivational speeches that give people a good feeling. There's nothing in the world you can tell freshmen to prepare them for reality. The only thing that counts is how you make them feel in this very moment at the Welcome-freshman-party.