Everything you say is true, but you are leaving out 2 major factors that are brought up in the article:
1. The "geezer" with 10 years of C++ probably wants a lot more money than the guy straight out of college. If the company both needs that expertise and can afford the premium then they will definitely go with him, but if money is an issue they may be happy to take the younger guy for lower pay.
2. The guy with 10 years of C++ may be more qualified than the hiring manager. If the manager is focused on the needs of the company of course this is no issue, but if that manager is some middle management person in a large organization who is worried more about his little fiefdom then the company as a whole, he is likely to avoid any candidate that might overshadow him.
1. The "geezer" with 10 years of C++ probably wants a lot more money than the guy straight out of college. If the company both needs that expertise and can afford the premium then they will definitely go with him, but if money is an issue they may be happy to take the younger guy for lower pay.
2. The guy with 10 years of C++ may be more qualified than the hiring manager. If the manager is focused on the needs of the company of course this is no issue, but if that manager is some middle management person in a large organization who is worried more about his little fiefdom then the company as a whole, he is likely to avoid any candidate that might overshadow him.