It might be easy to take the film for granted now, but it's role in introducing tons of newcomers to anime (including me as a young person) and it's general raising of the bar for production quality and scope is as significant as the article states. It's was a major stepping stone, laying the groundwork for the success of Ghost in the Shell in the following decade.
And it probably helped sell a LOT of cool Japanese motorcycles, and bolstered the trend of futuristic motorcycle designs in the years to follow.
3 1/2 hours seems like a good length for a comprehensive overview of a genre. I personally don't feel tempted to watch the whole thing right now, but for people who don't know much about cyberpunk and are just getting into it, it's probably a fun time.