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Sadly, this definitely applies to us. We did recover a bunch over time, but there are plenty long gone into the ether.
The more real problem with old photo files was file compatibility. As OS' upgraded and got better, the recognition of older JPEG and GIF formats started having errors and problems. It's now become a real pain to open them, resave them in later formats. The other problem is, as the article suggests, media. Floppies aren't easy to extract from anymore unless you install a floppy drive in your computer now (you're probably asking, what's a floppy? and that proves my point)...
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