That description is really superficial and misses a lot of important considerations, especially as to how memory is defined and accessed.
Fundamentally an N-bit value has 2N possible states, so a 16-bit value has 65,536 possible states. Additionally, memory is accessed as bytes, or 8-bit values. This was not always the case, older machines had different "word" sizes, anywhere from 4 to 36 bits per word, occasionally more, but over time the 8-bit word, or "byte", became the dominant form.
In every case a memory "address" contains one "word" or, on more modern machines, "byte". Memory is measured in these units, like "kilowords" or "gigabytes", for reasons of simplicity even though the individual memory chips themselves are specified in terms of bits. For example, a 1 gigabyte memory module often has 8 gigabit chips on it. These chips are read at the same time, the resulting data combined to produce a single byte of memory.
By that article's wobbly definition this means a 16-bit CPU can only address 64KB of memory, which is wrong. DOS systems from the 1980s used two pointers to represent memory, a segment and an offset, and could address 16MB using an effective 24-bit pointer. This isn't the only way in which the raw pointer size and total addressable memory can differ.
Some 32-bit systems also had an alternate 36-bit memory model that allowed addressing up to 64GB of memory, though an individual process was limited to a 4GB slice of the available memory.
In other words, for systems with a singular pointer to a memory address and where the smallest memory unit is a byte then the maximum addressable memory is 2N bytes.
Thankfully, since 64-bit systems are now commonplace and a computer with > 64GB of memory is not even exotic or unusual, addressing systems are a lot simpler now then when having to work around pointer-size limitations.