A bit, as defined by present day computers, is a binary value 0 or 1. That is the 'atom' of information, because in binary logic you cannot represent anything other than that using a single 'bit' - to represent anything else, like 0.5, you need more 'bits'.
However for multilevel electronics, the 'bit', would have multiple values. If someone makes a computer, which has electronics where each 'bit' can take value between 0-9, then you have a bit that can store more than just 0/1. Perhaps the author meant this. Attempts to make computers with multi level bits have failed, 'miserably'. Electronics has not been able to figure out how to do that, in a reliable/cost effective fashion. e.g. if someone can figure that out, then say a 1024 bits memory would have a single cell, the cells taking on a value ranging from 0-1023 to signify the value. That chip would then by 1024 times smaller than the current chips (just theoretically - if everything else remains the constant).
Though admittedly at a physical level, a bit would still remain as a bit. That is 1 wire going into a chip. That is 1 gate input. That is 1 memory cell. If you divide that 1 wire, 1 input, or that one cell into two, you get two wires/inputs/cells, NOT half wire/input/cell. So you get two bits.