What a load of nonsense...
"It seemed so plausible, but for most of us the savings never arrived. Why not?"
That heavily depends on the market. The article sounds as if you're targeting the whole industry, and if so it would be a clear sign of ignorance.
We're not saving eh? Ok, then let me spell something out for you.
In the old days you could only opt for either website hosting (getting your own private, but limited, webspace) and if you required more the only available options left were either hiring a server, or getting one of your own and make that available somehow.
The differences are even visible today. Take GoDaddy. They provide dedicated servers for you to use. Of course a decent one (8GB memory, 2x 1TB HDD, 10TB/month data traffic) will cost you approx. E 160,- / month at the time of writing.
GoDaddy also provides Virtual Private Servers and that shows a clear difference. Although the specifications are often lower you also pay a lot less. In this case a 'Deluxe' server would cost you approx. E 50,- / month. So you could easily opt to getting 3 servers instead of one.
And there are plenty of such examples. Leaseweb for example; dedicated servers starting off at E 30,- / month vs. cloud hosting starting around E 7,- / month.
So now you can get a full (virtual) server of your own to do as you like, while paying a whole lot less when you get yourself a physical server.
How is this not saving? How more obvious than this can it possibly get?
Sure, I know what's up. The article most likely talks about companies with in-house servers who more than often now get into contact with virtualization options but won't save a dime if they don't know how to use it. But that's not what the article told us, it basically addressed the whole market.
In the end it depends on the situation at hand if you'll be able to save up or not. The tool doesn't make the solution, it can only provide one. But that doesn't automatically make it the right solution for every problem.