The date here looks like it’s 1991, not 1962.
Having matured as an engineer well into the age of cloud computing, I can’t speak from experience on whether the systems described were superior to relational databases. However the specific predictions made turned out wrong: contrary to the peak of OO hype in the 90s, object-oriented DBMSes mostly look like an irrelevant boondoggle in hindsight, and while use cases for non-relational systems have grown (e.g. Kafka, etcd, Redis), relational databases are as dominant as ever in core data processing workloads 30 years later.