Honestly I struggle to grasp it myself. I was always understanding that the event horizon was simply the point of no return when entering a black hole. As a term I don't really see how Hawking's new theory does away with that at all. Something with so much mass is going to have just that effect. Going by just that article I think I'm with Polchinski on this one. With no disrespect to Hawking, it wasn't that long ago really that he was absolutely steadfast that black holes did not radiate or lose info at all.
IMO I don't think that article is very well written. The title is misleading as are the headings. He's not doing away with black holes or the event horizon as we know it completely, and it almost suggests (as I interpret it anyway) that black holes chomp up matter then spew out Hawking Radiation and shed mass and energy, but this obviously cannot be the case. I was glad that when I read through the comments I wasn't the only one who thought so and that I wasn't just a total numpty (which is probably true though
I'm an 'armchair physicist' that watches nothing but science docos and reads both non-fiction physics and hard sci-fi
)