This is a Big Bounce theory, so it will not help explain “old” galaxies. It still presupposes the observable universe went through a short period of extreme density and temperature, just not one infinitely dense. Galaxies and stars would not have survived. The article does say the theory allows for existence of pre-primordial black holes though, which is cool. That also allows for the possibility that primordial supermassive black holes “seeded” the early galaxies, enabling them to develop faster than existing models predict. We are still not exactly sure whether galaxies develop around SBHs, or whether SBHs grow in the centers of galaxies.