If the timeline of a technology looks like:
-----------------------------------+++++++++++>
Where the -'s are failures and the +'s are successes, then there are a lot more points that aren't the first plus than that are.
From the article it seems like they're already partnering with established firms to scale up their process. So I doubt this is "perpetually five-years-off" if they have already have partners on board implementing their process.
Lots of seemingly-promising materials technology falls down when people actually try to industrialize the manufacturing process. I don't see much sign from that article that they've actually overcome those hurdles. And those are the hurdles here -- we've been able to produce spider silk in small quantities since forever.
Maybe Bolt will do it! Someone will, eventually. But I just don't see any reason why this article couldn't have been written in 1995, which makes me wonder if in 2035, someone will write a functionally identical article, and some future skeptic will say, "I don't see why this article couldn't have been written in 2015."
Also, there is actually already a precedent for clothing being "grown" with bacteria, including specifically yeast (http://www.dezeen.com/2014/02/12/movie-biocouture-microbes-c...). Seems to me that the unique thing in this instance is the nature of the finished material - they were initially being funded by the military so these fabrics may be more "high performance" than their current yeast-grown counterparts. Either way given that there are multiple efforts to take these products to market I would not say that it is a pipe dream to commercialize on a large scale.
This isn't genuine spider silk though, if it had comparable performance they would certainly state so in interviews. The military probably is interested in "kevlar or better", which spider silk itself promises but has so far proved to be elusive.
Competing with regular clothing fiber such as cotton is a lower bar.