I think the author fully understands the difference between a strip and regular bond.  Whether it was a best buy of course depends on the investor's objectives and the available comparatives both at the time of purchase and over the life of the investment.

Assuming that the objective was obtaining a good long term yield from a bond or fixed income investment I would say the investment was good buy given the long term rate trend.

The only advantage that a comparable regular bond would have had was the potential benefit of compounding the interest received 2x a year.