So, they are claiming that the universe is young? What are the new estimates for the age of the universe?
It sounds like they are admitting that they need to update or change their theories about galaxy formation, specifically in the early stages of the universe after the big bang. I don't see where they are saying that this indicates a shorter timescale. There could well be whole new avenues of discovery and learning as a result of this new information. But I'm not seeing where it leads us to a young universe.