I will suggest that bugs and features are not as different as most people think. In both cases you are adding functionality that is not present in the current implementation. The difference is that in a feature, nobody expects the functionality to exist. In a bug, people expected the functionality to exist (either because it existed in a previous version, or because it was thought to have been implemented and it turns out that it wasn't).

People react badly to bugs because they feel it is a result of a mistake -- developers broke something they shouldn't, or they didn't do a good job in a previous implementation. The feeling is that a bug has the highest priority, but in reality, there is no such connection from "previous mistake" to "important now".

If the only difference between a bug and a feature is that a feature is not expected to already be present, as soon as you discover a bug it becomes a feature request -- we now know that functionality is not present. It should be prioritised in exactly the same way.

The key to solving the problem posed by the article is fairly clear. Get a list of all the things the you are not going to implement. Remove them from the list. Done. Whether these are bugs or features is irrelevant.