Yes and no. The VB article talks about hardware as if Shenzhen engineered everything. In the end, they're just some manufacture copying TI or Qualcomm's reference designs. It's quite sensationalist I think.
Yeah the heading might have been a bit sensationalist, but underneath everybody was logical & made sense. His main idea that hardware-only businesses are dead is right to the point (and so are you in saying that software alone is dead). Its all about integrating everything/anything for that perfect product.