The article really buried the lead on this one. The bottom line is that it's flat-out crazy for anyone to get an MFE these days. They cost as much as an MBA and won't get you a job as a quant.
Indeed, I am considering actually writing an entire article on that whole topic.
I haven't done an MFE personally, so I don't feel I can comment too much on what they're like, although I have a few friends who have. A lot of them simply went into research afterwards.