Half the population does not agree with the stance given in the essay. This argument has not been made for centuries; it has not been made at all because it is wildly out of sync with reality.
I would agree it's very reasonable to bow out of it because life's too short if you are a millionaire; in that case the argument really doesn't effect you so why bother with it, it's just academic.
Also "bully pulpit" doesn't have anything to do with being a bully.
I would reiterate OP of this thread: I love PG's essays and I hope this one isn't a way of saying he is dissuaded by his readership challenging him on one that didn't quite hit the mark. We read them in the first place because they never cease to provoke thought.