Well, Ian, there is a downside to using APFS on rotating drives. The way APFS manages changes to files, particularly large files, can lead to severe fragmentation on rotating drives. Greatly simplified, if you have a file of 100 blocks of data and there is a change to what is in, let's say, block 57, then what APFS does is to save just block 57 and point from block 56 to the new location and from block 57 back to where block 58 was (and is). Now the file is in three parts. If another change is made in block 34, the same thing happens, so now the file is is 5 parts (1-33, 34, 35-56, 57, 57-100). It doesn't take long for that file to be severely fragmented, making the drive have to work harder to read in the entire file. So, "conventional" wisdom has been to keep rotating drives HFS+ and only use APFS on SSDs, where that fragmentation doesn't make any speed difference because any block in an SSD is accessible at basically the same speed. APFS was designed for SSDs and is optimized for that ability to access anywhere quickly.
The likelihood of an extreme example as Howard gave in the article is very low. But there could be some files in APFS that DO have significant effects from being sparse. A random, very small, sample on my Mac didn't show any with large differences between size and space taken. (You can see that by using Get Info on a file. Two sizes are shown, the allocated size and the space taken on the drive.)
Another way to see how much sparse is saving on your drive would be to copy your entire user space from the APFS internal to an external HFS+ drive and compare how much space your User space takes up. I'm not curious enough to do that.