The article cites end-to-end efficiency as 60%. Plus the costs of maintaining steam generators and the pipe network. Electrical transmission systems are roughly 85% efficient to the consumer; together with boring old resistive electric radiators which are 100% efficient. So is there any reason to subscribe to the steam system for new construction?
But they're only about 33% (old tech) to 45% (best-case new tech) efficient when it comes to thermal potential. Burning coal or natural gas produces lots of heat, and while some of that heat turns the turbine, there's still a lot left that gets lost to the condenser or to the exhaust flue and atmosphere.
However, that's where steam distribution is awesome: It enables cogeneration, where some of the waste heat from electricity production can be efficiently used by heating industries. The electrical plant requires supercritical steam at 1000F and 1000 PSI, but the steam network only needs steam at ~150 PSI and 350F, which still has a lot of energy in it from the burners but is of comparatively little use to the turbine.