The article is... not wrong, but oversimplifying. There seem to be multiple faults at play here, some would continue to degrade, others would prevent you from recovering some performance threshold, but may be prevented from further damage, others may be solved. Yes, degradation of the chip may be irreversible, if it's due to the oxidation problem or due to the incorrect voltages having cuased damage, but presumably in some cases the chip would continue to work stable and not degenerate further with the microcode fixes.
But yes, agreed, the situation sucks and Intel should be out there disclosing a range of affected chips by at least the confirmed physical defect and allowing a streamlined recall of affected devices, not saying "start an RMA process and we'll look into it".