The article crucially says Toyota delayed participating in the first part of the cycle so they look "smart" only with luck and the benefit of selective retrospect. Sorta like a guy who got wasted and overslept and avoided dying in a plane crash.
I can attest this is true. Before the US $7,500 EV credit expired last year I went to multiple Toyota dealerships and they had zero meaningful EV offerings. They tried to put me in a truck.