This was the case when I jumped through those hoops in 2019, but it's much more straightforward now. Passport, phone number (doesn't have to Chinese) plus credit/debit card unlocks up to RMB 50,000/mo, with no fees for transactions under RMB 200.
That article is from 2023, things changed a lot in the past years. I just clicked on "Top up balance" (while being located in China) and it says "Please add a debit card issued by a Chinese Mainland bank to use the top-up function".