Done poorly a game can still overload the CPU with badly-written math operations.
badly-written math operations as in "poorly optimized math code"? May you write an example showcasing a badly-written math operations and a goodly-written math operations? Definitely would want to learn more.
I think what he is getting at is that if you don't take advantage of parallel operations, and if you take the naïve approach (i.e. math ops without any refactoring), then you get terrible performance.
However, I would like to take a different stance than the others on this topic. I think the terms provided by the author are probably appropriate - taxing to a CPU can mean a lot of different things, and just like all things in computer graphics, it depends on the scene you are processing. If you have a simple scene, a CPU rasterizer can easily keep a high frame rate on modern CPUs. If you want to push the limits of current technology, then CPUs are not the choice processor graphics - you would obviously go for GPUs.
So the author is incorrect because of his blanket statement (that the CPU is always heavily taxed by transformations), because it depends on the scene being rendered and the ops being executed. If you take a look at the latest WARP devices in D3D11, you can find some really screaming software based rasterizers that work just fine for many situations.