My take on this is somewhat different - my background is pure mathematics in my undergraduate degree, then applied machine learning at Facebook (ads optimization) and GS (algo trading), and currently at graduate school in ML.
My take is that 'applying' machine learning is much easier than one would think, but 'understanding' machine learning is _much_ harder than one would think.
I imagine most people start with an application - that's why they're interested in the first place. Applying an ML algorithm to a given dataset is trivial - only a few lines in R/Python with scikits-learn, etc. There's even a handy cheat-sheet [1] to tell you which algorithm to use. Your regression model spits out a few parameters, some estimates of quality of fit, maybe some pretty graphs, and you can call it a day.
The next stage is implementation - up until now, the black box has been spitting out parameters, and you want to understand what these numbers actually are and how they are determined. This means getting your hands dirty with the nitty-gritty of ML algorithms - understanding the algorithms statistical basis, understanding the computational performance of the algorithms (as you alluded to), and reading textbooks/journal articles. Many of these algorithms have a simple 'kernel' of an idea that can be obscured by a lot of mathematical sophistication - For SVM, the idea of finding a plane that separates your data as much as possible, logistic regression is just finding the line of best fit in logit space, k-means is just of repeatedly assigning points to clusters then updating clusters, etc.
It's not _that_ difficult to get working implementations of these algorithms (although debugging an incorrect implementation can be frustrating). You can implement simple versions of gradient boosting machines - a theoretically sophisticated technique that often works very well in practice - in around 100 lines of Python [2] or Go [3]. You can get implement Hopfield networks (a basic neural network for unsupervised learning) in Julia [4] and Haskell [5] without much trouble either.
I think where a lot of the value from spending 3-5+ years in graduate school comes in when you an off-the-shelf technique isn't cutting it - maybe you're overfitting, you want to play with hyperparameters, your datasets are scaling faster than the off-the-shelf implementations can deal with them, etc. Solving these kind of problems is where a lot of the mathematical/statistical sophistication can come into play - Bayesian hyperparameter optimization of existing ML techniques improved on state-of-the-art in image processing [6], understanding _why_ the LASSO works (and understanding when it doesn't) can mean having to understand the distribution of eigenvalues of random Gaussian matrices [7]. That's saying nothing of figuring out how to take an existing algorithm and scaling it out in parallel across 1000+ machines [8], which can mean using some deep convex optimization theory [9] to justify your approximations and prove that the approximated model you learn is well-behaved, etc.
I suspect that some of the gulf between ML in practice and theory arises from the differing goals in the two parties. If you just want an parameter estimation, then a lot of the rigour will seem useless, and if you want to understand a procedure deeply, you can't do away with rigour. Take the k-means paper used in the article. In the screenshot, the paper's author is presenting results of the flavour
> Under weak conditions on the data, as the number of iterations increases, regardless of the random choices made, the k-means clustering tends towards a good clustering of the data.
Depending on your viewpoint, this result is either obvious, non-obvious, or irrelevant. To prove this needs (at a glance) theorems from topology, measure theory, martingale convergence, etc.
I suppose some people find that fascinating, and want to understand _why_ this is true, and what 'good', 'tends', and 'weak' _mean_ in the above statement - and some people just find this irrelevant to their goal of finding similar blog articles. Both viewpoints are reasonable, but I suspect this divergence is the cause of the articles like these.
Applying machine learning isn't that hard, but _understanding_ it is.
[1]: https://lh3.ggpht.com/-ME24ePzpzIM/UQLWTwurfXI/AAAAAAAAANw/W...
[2]: http://www.trungh.com/2013/04/a-short-introduction-to-gradie...
[3]: https://github.com/ajtulloch/decisiontrees
[4]: https://github.com/johnmyleswhite/HopfieldNets.jl
[5]: https://github.com/ajtulloch/hopfield-networks
[6]: http://arxiv.org/pdf/1206.2944.pdf
[7]: http://arxiv.org/pdf/math/0410542v3.pdf
[8]: http://books.nips.cc/papers/files/nips25/NIPS2012_0598.pdf
[9]: http://www.cs.berkeley.edu/~jduchi/projects/DuchiHaSi10.pdf