The premise of the article is that Japan was experiencing a period of "austerity" and "caution" with a lack of pretentiousness. I'm not sure that's accurate. On the streets of Tokyo during the lost decade, you wouldn't know that a recession was going on. Luxury goods were flying off the shelves, pretentious restaurants were all over the place and construction projects were unabated.
That restaurant sounds like an experience, though - an experience I certainly wouldn't pay for except on an expense account.