Does the translation make sense to you?

It makes good sense, but the grammar, punctuation and style need some slight work to make it fluent.

John C. Dvorak, a columnist at [or "on"] the authoritative Marketwatch website, maintains that the problem with some Chinese internet companies is that they emulate similar US dotcom companies, for example he says that Baidu, Taobao and Dangdang emulate Google, eBay and Amazon respectively. Dvorak says that the only half-original company in China is Alibaba. Like similar e-commerce websites of the late 1990s in the US, it plays the role of middleman for disintermediate investment.

The last sentence appears to make no sense, since "disintermediate" is a financial jargon word meaning "avoiding middlemen".

When naming well known websites it is permissible to omit ".com".