While I know exactly squat about designing an immersed system, I can probably suggest that this looks cool and serves as a novel approach to the cooling game. It is hard to say if this setup has any real future in data centers, however—as the article points out, there is that little issue of replacing hardware.
GIGABYTE and 3M had submerged a full 8-GPU, dual CPU system with 24 memory modules and nothing more than large copper heatsinks on the CPU/GPU, and had even removed the power delivery heatsinks. To cool the vapor as it rises through the system, a cold radiator is placed inside the sealed system. Well, I say sealed, but during the demo it was being opened and the demonstrator was clearly putting his hand inside. There seemed to also be a system in place to add/remove hydrocarbon material through a pump as well. So the point in all this is more efficient cooling – no need for massive air conditioning units in a data center, no need to pump chilled water into water blocks.