This is a bizarre take. The most substantial point is buried near the end of the article: Genius does not own the copyright to the lyrics. Yes, they may have taken billions of painstaking person-years to hand-transcribe them onto artisanal silks, but no matter how much effort you put into copying someone else's work, it doesn't make it your work, and you can't sue people over it. At best, you could claim your copy is a derivative work, but that only grants you protection for your additional creative contributions on top of the original work, which for a straight transcription is... well, nothing.
Genius knows this, which is why they didn't file a copyright suit. Instead, they claimed other things like unfair competition and breach of contract. However, Title 17 Section 301 of the US Code says that "all legal or equitable rights that are equivalent to any of the exclusive rights within the general scope of copyright [...] are governed exclusively by this title". To avoid this, Genius needed to prove that their claims weren't "equivalent" – ie weren't just copyright claims dressed up as something else. They failed to do this, and so their case was thrown out.
Genius knows this, which is why they didn't file a copyright suit. Instead, they claimed other things like unfair competition and breach of contract. However, Title 17 Section 301 of the US Code says that "all legal or equitable rights that are equivalent to any of the exclusive rights within the general scope of copyright [...] are governed exclusively by this title". To avoid this, Genius needed to prove that their claims weren't "equivalent" – ie weren't just copyright claims dressed up as something else. They failed to do this, and so their case was thrown out.