Do you really think that if TouchID was as trivially easy to crack as these guys claim, Apple would have gotten all the major credit card companies and 90% of the banks to sign on for Apple Pay after their security people TESTED it??? No way.
Oh yes, I believe it.
I've written credit card gateways, and you'd be shocked at how loose that is. The "system" is remarkably sloppy.
I believe the Apple technology, even with it's flaws, is better than credit card security. Almost anything will look like an improvement.