Chances are you'll never run into that limit for this service, because even if there's a ton of users behind the same IP due to NAT, they don't need to hold long sessions, and you can disable http keep-alive and close connections right away. Chances are you'll have some ip diversity in 400k requests/second though.
With that in mind + the general advancing of hw since then, it wouldn't be too suprising if nginx could handle that load easily. It'd just get more difficult if you wanted to put anything else (ie. metrics) on that endpoint since afaict nginx doesn't have anything to monitor those things if you don't have the Enterprise version of their tools.
In any case you might be misreading the setup for the parent here - the recommendation is just that if you're doing this in the context of a webapp, that this sort of behavior is trivially easy to bounce back in JSON using nginx.
If your use case calls for 400k/reqs a second on what your IP is and you haven't yet figured out how to build out your infrastructure(or pay someone to do it for you), you have bigger problems than figuring our what your public IP is.