The study does not say that cold therapy does nothing. It says that it appears massage does more for what was tested.
The sample size was 16 massage / 16 cold therapy / 16 control. Men only.
It seems like they could have also measured other metrics like lactate levels.
It is interesting but like with most studies the effort can not yield a strong conclusion.
I have not tracked down the whole paper yet, but I am curious about the definition of "recovery"? I had never seen stride height used as a metric for recovery. (Not that I read as much in this area as I once did.)