Blind people can have a good or bad sense of direction, just like their sighted peers. I think the device described in the article might be more useful on short distances and less relevant for knowing where your home is while you're far away from it. This because blind people don't have the visual queues to determine if they're walking in a straight line for example. Getting immediate feedback could help with such skills and learn them how to verify the signals from the device with other senses.
Sensory substitution, aka how to replace input from one sense with input from another is a quite interesting topic.