alt Hacker NewsCut and paste is a UI failure; it only works kinda if you have fully functional hands. If your hands don't work right, or you have tremors or other mobility impairments, your chances of succeeding with cut and paste drop off significantly.
The Emacs mark-and-point UI works for everyone: fully functional hands, partially functioning hands, or even speech recognition. It also solves the problem of copy, cut, and paste described in the article.
Reading through the post, it was clear that the author wasn't very familiar with Emacs. I'm a huge fan of the undo model of Emacs, especially with tools like undo-tree (although cycling through with M-y is basically as good for my use cases). The "replace the clipboard" bug doesn't exist because Emacs has a killring (I'm such a fan I bought killring.org years ago!), and the "text reflows" problem is completely solved use C-u C-space to traverse the mark-ring. His final point, that it is multiple operations, I simply disagree is a bug...multiple operations is fine, because I can compose them in a way that suits my workflow. Of course, in Emacs it would be trivial to write Ghost Cut (though it would only work within Emacs...).