The post is rather pessimistic and doesn't explore the topic in a tone of 'anything is possible'
It is possible to do this with a lot of effort and an appropriate
PR blip at the right place at the right time. You also need writing skills which everyone won't have and your content has to be intriguing for people to continue to read more of your work.
Steve Pavlina is the best example I know of - granted he already published a book before going full speed with his blog.
http://stevepavlina.com/blog
He writes at length about what he does, which is basically target particular google ads based on the article (or blog) that he has posted.
I know he does quite well with it, the last I remember from his writing on this particular subject is that he makes over 30k per month from the blog.
Hope this helps, anything is possible.