There is no doubt that datacenter components will evolve / devolve to commodity components - the economics are simply too compelling at this point, at least for the foreseeable future.
Probably the hardest architectural component to consider commoditizing is the switching interconnect - it can be sorely tempting to not want to think of network topologies, if for no other reason than it can simply be a pain.
While the article is very short on details, you can
download the paper itself here. A litle too much to thoroughly consider right now, but it does look interesting at first glance.
In any case, I think any improvements we can make in interconnects (particularly where the building blocks themselves remain commodity) is a great thing. Who could argue any other way?
Having said that, I think for many apps (outside of the non-chunkable mega-simulations/models/etc - you know who you are) even bigger gains are to be had from having the cloud app layer 1) know how to keep work moving to the data, and 2) self-organize computing and storage elements around things like the commodity switch boundaries.
That way you can let the "cloud enablement" teir organize the work appropriately, without burdening the app developer.
Bob