In plain HTML, you can't do:
custom-validity={value.length ? "Fill out this field" : ""}
you can only use a static string for an attribute. So you'd need an event handler to set custom-validity from javascript when the input value changes, then a handler to setCustomValidity when custom-validity changes.
In other words, it's the same exact imperitive interface as setCustomValidity, except with an extra layer and the extra event handling has to be implmented along with it.
If I had a say, I'd go for an interface where custom-validation would take a javascript function name, and that function would take the value as input and optionally return a string with a validity message. Or it takes a javascript snippet like onclick, except one which returns an optional string value. Then again, there wouldn't be much difference from onchange.
Edit: to counterbalance some of the criticism, I think the article is very nicely written and formatted, and the interactive components are a good touch.