From the article: 'Photoshop Elements is a stripped down version of Photoshop which has some of its features removed or at least hidden and is limited in many of its tasks to 8-bit images and either sRGB or AdobeRGB color space.'
This might be a bit misleading.
I use PSE 14 and always start with 16 bit TIFFs in ProPhoto RGB. Then I do basic adjustments in PSE and final ones in Nik's Viveza
or Silver Efex (including curve adjustemts). If I then need a PSE feature that isn't available in 16 bit editing mode, I just do a conversion to 8 bit and then apply the final changes before saving.
For me that works perfectly fine - it does depend on the individual's workflow and Photoshop features needed, of course.