The idea of multiple IPv4+ hosts with the same IPv4 address doesn't come into it at all. (Questions of proxying in its various forms aren't really relevant.) So, to answer your question: it wouldn't.
This is the bit that wasn't in djb's original article AFAIR. My take was that 1.2.3.4 and 1.2.3.4.0.0.0.1 would be the same machine -- or at least allocated to the same entity.