Back to their work, they are probably using some algorithm that runs in O(N) because the images have a lot of atoms and anything that is not linear is too slow. In some cases the O(N) algorithm reach a good enough result, but sometimes it has a few hidden approximations and restrictions. It's very difficult to do better than O(N) in this systems, so you can't change the asymptotic complexity. So you only can change the big constant that is hidden by the O. A x3 is nice, it means 3 times more atoms.
For short-range interactions like Van der Waals forces, MD is O(N) like you said, because you only have to evaluate a finite radius around each atom. But charge interactions, decaying as 1/r, don't converge in any finite radius.
About our calculation, with a lot of simplifications ...
You want to know the density of the probability to find an electron in any point is the space near a set of a few atoms.
Instead of using calculating the density as a function of (x,y,z) you can calculate it as a sum of the orbitals that are associated to each atom. Assume 5 orbital per atom like Carbon or Oxygen, and 1 orbital per Hydrogen.
The orbitals may be combined. When you do it by hand, the most common case is called "hybridization", but the computer can choose stranger combinations. It is just an orthonormal base of L^2.
One way to describe the density is to use a matrix of NxN (or 5Nx5N, or whatever is the actual number of orbitals). The diagonal terms d_i^i are the probability that an electron is in the orbital number i. The rest of the matrix is more difficult to define with handwaving, but they are the correct numbers that allow you to change the base of orbitals and get the correct densities in the new base of orbital using the standard matrix formula C M C^-1.
The numbers may be complex number, but with some standard trick you can assume that they are real. They may be positive, zero or negative anyway. Except in the diagonal, because in the diagonal they are probabilities.
This matrix has not all the information. It's better to have a matrix about pairs of electrons. It's a N^2xN^2 = N^4 matrix (or (5N)^2x(5N)^2 or whatever) where the diagonal items D_ij^ij are the probabilities that you can find an electron in the orbital i and then you can find an electron in the orbital j.
You could assume that the matrix for two electrons is just the product of two matrices of one electron D_ij^ij = d_i^i * d_j^j, but it is not true. It's a good approximation and some methods use it and, they are very fast but less accurate.
This N^2xN^2 = N^4 matrix is actually a tensor that is just like a matrix of 4 dimensions. The operations to change the base are more difficult, but don't worry about that. Sometimes we use as a matrix and sometimes as a tensor. Anyway, the diagonal has the probabilities, and the other coefficients have the correct numbers to make the calculation (somewhat) independent of the base of orbitals you have choose.
You can define an equivalent matrix for 3, 4, 5, ... electrons, they are bigger and provide more information. We (most of the time) use just the version for 2 electrons.
Now you have to operate with a matrix of N^2xN^2 = N^4. Just a naïve matrix multiplication is O(N^6). We do more complicated thing that involves lot of multiplications (there are many ways to multiply them because they have many indices to choose). Imagine something like a diagonalization or an inverse. It's very different, but you don't want to do it by hand.
I hope this is enough to justify a O(N^6). The description has a lot of simplifications.
Notes:
I actually forget about the spin, so you have 2x5xN orbitals for Carbon and Oxygen, instead of 5xN. But the (10N)^4 matrix for 2 electron has blocks, so it's better to operate with the blocks instead of using a big matrix with a lot of zeros.
You can get more precision using more orbitals per atom, but as you can imagine, the calculations is slower.
We use a few different methods, so it's more complicated.
At each step, add "some other research group does that, and get good results in some cases".
No surprise there's a large trade-off.
When working on the cutting edge of computing science problems, constant factor reductions can matter a lot. It can mean the difference between being able to do an experiment or not. If an experiment costs $10,000 of computation and your budget is $5,000, finding a 2x improvement is the difference between night and day.
That said, there are many situations where you need to do much better to make the impractical practical. However, problems are often chosen because they are just on the brink of tractibility, so the constant factor improvements matter more than you'd think especially in fields where the problems are chosen for e.g. biological interestingness vs computational interestingness.
In practical computer science/engineering like HPC, people are typically excited to get 10-20% speedups, because in a project with a million dollar compute budget, that'll pay their salary that year. A 3-4 speedup is almost unheard of for already-optimized codes like LAMMPS (although these numbers are a guess at the practical maximum speed), so it's probably newsworthy.
At large problem sizes a lot of effort has already been put into using the optimal algorithm. If simulations take days you're grateful for any constant factor improvements.
Asymptotic computational complexity does matter, but it only tells you how far you can push the problem. It tells you such things as "cracking this cipher is practically infeasible even if you turned the whole universe into a computer", "problem can only be approximated", "sometimes will not get a result at all" or "so ridiculously simple that we can run this on terabytes of data within minutes". But when you have taken all those categorical things into account and do an actual implementation then constant factors do matter in the same way that serving a website at 1Mbit/s vs. 100Mbit/s matters, even though it's only a constant factor reduction in load times.
Back in my time computer scientists were'nt typically impressed much by a constant reduction of compute complexity. Has this attitude changed somehow?