Etin,
Your points are very well noted. However, IMHO and with all due respect, I think you have missed some points in that article. Let me point them out, if I may:
Serious organisations should know how many users their site can handle and have in place a procedure to manage crisis or overload.
Here is what Mr. Ilube says about the above:
"Well, I can say from experience that building computer systems that can cope suddenly with a completely unexpected burst of perhaps 10 or 20 times their normal processing volume is notoriously difficult to do, but by no means impossible."
Impossible, no. "Notoriously" difficult, yes.
My question is, what is the point of monitoring if no process has been put in place to handle unexpected load?
I seriously doubt the guys at NR didn't have anything in place. If they didn't, they wouldn't have been that successful. Perhaps the process they had in place was inadequate. Again, Mr. Ilube says:
"There are sound economic reasons for taking this third approach as major spikes happen rarely, if ever." Note "as major spikes happen rarely, if ever". If there was no precedence, how would they know? Now that there is a precedence, other banks will take note and hopefully do something about it.
My last statement above is supported by Mr. Ilube parting statement:
"That Northern Rock IT director is the only IT executive in the UK online bank world today who has been at the sharp end of a digital run on the bank.
That direct experience is invaluable - and whatever happens to the rest of Northern Rock's executives, he will be in high demand to share his experience across the finance sector and make the whole online banking world safer."
Again, note the first paragraph.
I have indeed read the entire article, which was well-written by the way and by no means am I cherry-picking to support my statements. I am happy that you dug up this article and shared it with us. I have indeed learnt from it myself.
Banks, like other businesses, are around to make a profit. In this age where investors demand continuous and consistent growth, businesses have to cut the fat in order to squeeze out an extra penny. The result is that unexpected things like a run on a bank will probably not be addressed until it happens. If they do decide to do it, who do you think will pay for it? The bank? Mba. It will be you via higher "service charges". In the end, no business pays for anything, including taxes. We as consumers pay.
Mr. Ilube wrote well. However, he is engaged in what we in the states call, "Monday Morning Quarter-backing". In Nigeria,we would say, "Medicine after death". Either way, again, well-written article. Let's hope that other online businesses heed the warnings in general and that nigerian-based companies learn that quality assurance and testing are perhaps the bed-rock of any successful software application.
Just imagine if a plane were the first bank of Nigeria website - I click the "internet banking" link and it doesn't work. Replace this with the pilot engaging the wheels in order to land the plane. Now, imagine the wheels not popping out of their compartments. Close your eyes and imagine what would happen then

As always, my 2 cents.