While I agree the article is sensationalist and the pictures are misleading, I disagree that there is no relevance. If anything, everything you've said makes it more concerning. These are exactly the kind of drones we will have flying overhead, which will all be easily borked by anybody with $1000 and some good technical knowledge.
I agree it is an area that could do with research. However, we know consumer level GPSs have no protection against spoofing (indeed, you can buy GPS jammers from various websites for defeating fleet tracking systems).
You could as well use a replay attack against the pilot's control system (probably on 2.4GHz) using much cheaper hardware.
There is still plenty of work to do before these class of research drones become commonplace overhead - in particular, practically every onboard system is a single point of failure.