If you take the text at face value, he's making a pretty modest proposal:

(1) The current velocity of disinformation is high -> (2) this leads to socially harmful outcomes -> (3) providing P2P encryption in turnkey form via social network apps isn't a good idea.

I don't see the suggestions of panopticon you do. I see someone saying 'Most people on social media platforms aren't responsible, thoughtful enough media consumers to earn a right to encryption.'

Personally? I think it's a perspective worth considering. {Low-effort P2P encryption + low-effort forwarding} is a fundamentally different social value proposition than {Medium-effort P2P encryption + medium-effort forwarding}.