Earlier quoted context omitted.
Not sure you read the article - there is an additional constraint in that only email addresses pertaining to the institution in question are allowed.
Yes, I decided to ignore that constraint because it doesn't make sense :). The article suggests performing "server-side membership testing, which is O(1)", but I think this is a bit too much — you can do even easier server-side validation without the list of all valid e-mail addresses, just the information that "@[anything but these two domains] is not an OK target".
It does if you want to give the user instant feedback when they type an address that is in a valid domain but does not actually exist, as Ntrails pointed out. If you think a requirement doesn't make sense, you're supposed to ask the client, not just arbitrarily ignore it.