If I'm right, that's exactly what they did. When the BMC chip boots, it checks two flash chips for firmware so the attacker just uploaded their own code to one of a million standard SPI flash chips and plopped it onto the board. They didn't have to incorporate another device into the system, the system was already designed for two flash memory chips. However, to save money on some SKUs, the manufacturer left one of the positions on the board open.
Normally this wouldn't be worth talking about because most active chips are too complicated and too design/supplier specific to carry out an attack like this, but SPI flash is about as standard a footprint/protocol as you can get in EE short of transistors so if you ship a product that could be reprogrammed from unpopulated pads, you're opening yourself up to a large attack surface.
Honestly, after I read the latest BMC chip theory I was like: "Oh, shit. Have I done that?"