i don't think it's entirely bogus. if you follow the link in the article (it does to another article on the same topic) it says:
"The study was conducted on 16 subjects: eight who performed a two-week sprint interval training program and eight who did no exercise training. The training program consisted of between four and seven 30-second bursts of "all out" cycling followed by four minutes of recovery three times a week for two weeks. Researchers found that endurance capacity in the sprint group increased on average from 26 minutes to 51 minutes, whereas the control group showed no change. The muscles of the trained group also showed a significant increase in citrate synthase, an enzyme that is indicative of the tissue's ability to utilize oxygen."
of course i haven't read the real report (costs money to access) but i think the results are pretty interesting.