I wrote these apps for Windows Mobile, I've writtten a couple for Android, I've even written some into specialized devices using basic GPS Dongles and cellular network access for triangulation.
Now that Apple is doing it, suddenly it's going to CHANGE THE WORLD (tm). Location-based services/applications along with advertising have been looked at before, they failed then, they will fail now. People don't want adverts on their phones, they don't want bluetooth spam or to be bombarded with "Hey, come and enjoy a Pizza half-price at Hungry Joe's" everytime they walk past a pizza restaurant.
The article is poorly written, lacking in experience or significant research into previous implementations and sings the praises of Apple combining their award-winning expertise with this amazing new tech to change the marketplace forever.
Pass me a bucket, mine is full already.