Why? I haven't played with an FPGA since University, so I'm really disconnected from this world. So what does this article mean?

308 is an incredibly small amount of LUTs, might even fit in a CPLD.

You could fit 200+ 8088's on the smallest version of the FPGA family they used.

Oh wow, now I really want to see a 200-core-8088-on-FPGA! (Yeah, I know, the necessary NoC and glue would add a ton of overhead. But still!)

Even better than 88s: http://fpga.org/grvi-phalanx/