Yeah, and it's not even an accurate explanation either.

> The common one, the fridge magnet, is ferromagnetic — its atomic magnets all point the same way (up or down), adding their magnetic effects.

Ferromagnets typically have domains with magnetic moments that point in different directions. Ferromagnets can have a net magnetic moment without every 'atomic magnet' pointing the same way.

https://en.wikipedia.org/wiki/Magnetic_domain

Refrigerator magnets in particular are usually magnetized as Halbach arrays, where the whole point is that the 'atomic magnets' are not pointing in the same direction. This is more energetically stable, which allows you to use cheaper materials.

https://en.wikipedia.org/wiki/Refrigerator_magnet

Lastly, I believe most refrigerator magnets are actually ferrimagnetic, not ferromagnetic. (The distinction doesn't matter much for users of magnets, but is important for the materials scientists studying and designing them.)

https://en.wikipedia.org/wiki/Ferrimagnetism