Take this with a grain of salt, because I'll admit I didn't read it very thoroughly. My understanding of holographic algorithms is that they make a primitive out of a matching algorithms that could be executed in constant physical time with holographic storage. While thats great, I think it only fair to include the complexity of the matching in the overall algorithms complexity, because although it happens in constant time this only because of massively parallel interactions in the storage.

Still I think when the author says that P != NP proofs will have to address this I think he's right that that is important. It means that this is at the crux of the issue, either way it goes.