Hi TuringTest, thanks for your comment! Contrary to your past tense, Flow continues to be in active development, and continues to be deployed to new use cases, most recently a new user help forum on French Wikipedia, and a technical support forum on Catalan Wikipedia. Since the only way to roll out a system like this is to replace existing use of wiki pages, we're proceeding conservatively to test it out in social spaces where people want to try a new approach, and improving it in partnership with real users in those venues.
It's true that talk pages, being ordinary wiki pages, support "making your own workflow". I love the Douglas Engelbart reference, though I doubt Engelbart would have remained content with talk pages for very long. The lack of a discrete identity for separate comments makes it impossible to selectively monitor conversations you're participating in (you literally have to use diffs to know what's going on), or to show comments outside of the context of the page they were added to. This is a pretty tough set of constraints to work with. At the same time, you're absolutely right that a modern system can't simply emulate patterns used by web forums or commenting systems like this one.
Like wiki pages, Flow posts have their own revision history. Flow-enabled pages have a wiki-style header. Each thread has a summary which can be community-edited. Threads can be collapsed and un-collapsed by anyone. All actions are logged. In short, wiki-style principles and ideas are implemented throughout the system. At the same time, we believe that as we add modern capabilities like tagging, we can replace some of the convoluted workflows that are necessary in wikitext. Already, Flow adds capabilities missing from talk pages -- notifications for individual replies, watching specific threads (rather than a whole page), in-place responses, etc. More to come.
Hello metasonix! First, congratulations on the successful article submission. In answer to your question, I was referring to LQT development. LQT was put into maintenance mode in early 2011, so of your "10 plus year project", about 7 years elapsed with a little bit of paid effort dedicated to the development of LQT. $150K max spent (not all of it by WMF) on LQT is really a high estimate -- Andrew Garrett, the only dedicated developer, also worked on other projects during that time, including the widely used AbuseFilter extension.
Flow development kicked off in summer 2013, about 18-19 months of development effort so far by a team that's fluctuated in size but currently comprises three full-time engineers, about half a person's time for UX design and research, a product manager and a community liaison. During that entire timeframe, I would estimate money spent on the project so far at less than $1M. Even if you combine both efforts, "millions of dollars spent" is pure hyperbole, and adding up elapsed time to exaggerate scale and scope of these efforts is equally misleading.
The article summary speaks of "millions of dollars spent" on a new discussion system for Wikipedia. The article actually tells a very different story -- the LiquidThreads extension started out as a Google Summer of Code project, was funded for a while by an interested third party, and then received a little attention from the Wikimedia Foundation (one designer, one developer) before development was put into maintenance mode. I would ballpark the total money spent around $100-$150K max. Elapsed time does not equate money spent. LQT continues to be in use on a number of projects, but its architecture and UX needed to be fundamentally overhauled.
Flow, the designated successor to LQT, continues to be in development by a small team, and is gradually being deployed to appropriate use cases. It is now running on designated pages in a couple of Wikipedia languages, and old LiquidThreads pages are being converted over using a conversion script developed by the Flow team. Contrary to the article's claim, WikiEducator upgraded to a recent version of LQT, and will be able to migrate to Flow in future using the conversion script.
You can give Flow a try in the sandbox on mediawiki.org and see for yourself whether the article's claims are hyperbole or not. Disclaimer: I am the person referenced in the headline of the Wikipediocracy article, so take my view with a grain of salt, as well.