The for loop works fine. Performing word splitting/wildcard expansion/etc on a variable will, well, split it into words/expand wildcards/etc, whether it was introduced by a for loop or not.
I am not sure I understand what you mean. Word-splitting is performed by the "for x in y" construct, using the IFS variable, so by default if you have a file called "foo bar.mp4" the command line from the article:
for i in *.mp4; do ffmpeg -i "$i" "${i%.mp4}.mp3"; done
will result in executing:
ffmpeg -i foo foo.mp3
ffmpeg -i bar.mp4 bar.mp3
Which is obviously not what was meant. So it's a good habit to learn to loop over files in a directory in a different way.