Could someone summarize what everyone in the comments is arguing about in less technical terms? I don’t have a background in economics but do have a background with physics.
The paper itself is pretty interesting if you know some maths and haven't thought about non-linear utility functions. You can also read that "original" paper by Bernoulli, he has some simple examples there (for example why does it make sense to buy insurance despite it having negative expected payoff, he brings the example of ship cargo insurance but it applies to any kind of insurance really).
EDIT: Daniel Bernoulli's paper: https://www.semanticscholar.org/paper/Exposition-of-a-New-Th...
I am not qualified to judge whether those feelings are correct however.
Using the wrong type of average mildly screws up everything in very subtle ways as you can imagine.
A lot of the important results in the field including one that got a nobel prize turn out to be wrong.
The economists are responding to this in a very mature way and have told Ole Peters "he can go kick a rock".