Bonding in diatomic C2, a carbon-carbon quadruple bond?
Okay, this is not so much of an answer as it is a summary of my own progress on this topic after giving it some thought. I don't think it's a settled debate in the community yet, so I don't feel so much ashamed about it :)
A few of the things worthy of note are:

The bond energy found by the authors for this fourth bond is $\pu{13.2 kcal/mol}$, i.e. about $\pu{55 kJ/mol}$. This is very weak for a covalent bond. You can compare it to other values here, or to the energies of the first three bonds in triple-bonded carbon, which are respectively $348, 266$, and $\pu{225 kJ/mol}$. This fourth bond is actually even weaker than the strongest of hydrogen bonds ($\ce{F\bond{...}H–F}$, at $\pu{160 kJ/mol}$). Another point of view on this article could thus be: “valence bond necessarily predicts a quadruple bond, and it was now precisely calculated and found to be quite weak.”

The findings of this article are consistent with earlier calculations using other quantum chemistry methods (e.g. the DFT calculations in ref. 48 of the Nature Chemistry paper) which have found a bond order between 3 and 4 for molecular dicarbon.

However, the existence of this quadruple bonds is somewhat at odds with the cohesive energy of gas-phase dicarbon, which according to Wikipedia is $\pu{6.32 eV}$, i.e. $\pu{609 kJ/mol}$. This latter value is much more in line with typical double bonds, reported at an average of $\pu{614 kJ/mol}$. This is still a bit of a misery to me…