I disagree that time-based releases are bad. With good project planning and management, it can work quite well. That means keeping the new feature list reasonable, being able to say "No" when required, a willingness to drop features that just aren't really ready in time, and reasonable flexibility in delaying the release some *if* that becomes necessary due to some unforseen, last minute problem. Time-based releases actually encourage good, agile development practices. Obviously, they can also be a disaster if the project leader, BDFL, or whomever doesn't handle it right.
I felt like the really disturbing bit from the article was:
MySQL 5.1 was declared beta and RC way too early. The reason MySQL 5.1 was declared RC was not because we thought it was close to being GA, but because the MySQL manager in charge *wanted to get more people testing MySQL 5.1.
You might recognize the old "present it as more stable than it is to trick people into testing for us" technique. Although this is not the worst example. Some well known FOSS projects actually release alpha quality code as GA.