It sure does - The article itself says a guy who promoted himself as a"hacker" applied for a job at a security company. I bet when he gets rated on the job, one of his attributes is "trustworthiness." He's pretty much told people he's NOT trustworthy.
Lawyers, doctors and other professionsals are required to keep certain facts confidential - if you blab on Facebook, you may blab stuff that is supposed to be kept confidential (I don't mean you'd blab stuff on Facebook, but to others).
Workplaces in general are also bastions of conservatism - it's great to know that your co-workers have 2.5 kids, a white picket fence, the latest Habachi BBQ and a damned-nice rose garden. However, find-out that your co-worker is a recovering drug addict, charged with domestic violence, Grand Dick-Wad of the KKK or imlicated in other nefarious activities, and people in the workplace get all wonked-out and in a tizzy.
Besides as the article says it may be a generational thing. Maybe when one person hires another and they are both from the Facebook generation, it may not be an issue - hell they may even get a good laugh out of it. However, most managers don't understand how a person can post details like that.
Finally, and technically speaking, there may not be any direct correlation between a person's competency and the fact that they have revealing photos on the internet. However, life is not logical - it's emotional and irrational. People may not be able and ready to see the forrest through the thong bikini picture on Facebook just yet.