Interesting article and substantively correct about the direct impact of tariffs. But is using a bit of a straw-man as a hook. It is very easy to buy decent quality sneakers for $2 wholesale, and Nike do sell a lot of $150 sneakers.
No one assumes that they are just taking that as profit; it is mostly spent on advertising (sports sponsorships etc.) supporting retail etc. Fundamentally, they can and will choose to change the percentage they spend on raw materials and complex manufacturing techniques if that is what the marketplace demands.