Unless the article has been edited, it doesn't say that[1].
What the article calls "constant time in practice" is necessary, but not sufficient.
As you say, it's not correct to say that CTIP means that you're fast - after all, you could make a HTTP request per array access and maintain constant time.
But you can say that taking advantage of CTIP allows you to achieve speed.
In my opinion, it takes quite an uncharitable reading of the article for it to seem like they mean the former.
[1] (The closest section to your quote) "Elm now has fast immutable arrays. How can that be? Is there such a thing? Thanks to Christian Widera, the new Array library uses some very clever data structures that make common operations like get and set constant time in practice! We will get into the details later in this post, but the big takeaway is that you can have immutability and speed. "