For example:
In fact, there are lots of great reasons for bloatware: For one, if programmers don't have to worry about how large their code is, they can ship it sooner. And that means you get more features, and features make your life better (when you use them) and don't usually hurt (when you don't).
Every single part of that statement is false. Your programmers should be worrying about how large their code is. If they're not, and your competitors are, then your competition will release a program that does everything your program does, but better and faster. So what if they're a couple months (or even a few years) behind? First mover advantage is relatively short-lived, anyway. Microsoft Word wasn't the first word processor and Microsoft Excel wasn't the first spreadsheet. Google wasn't the first search engine. Facebook wasn't the first social network.
As far as more features being helpful when you use them and harmless when you don't, well, that's inaccurate too. I find it very ironic that he uses Excel as his poster child for this, since the addition of features has absolutely hurt Excel's usability. These days, Excel is a tool that's comparable to vim or emacs. It's very powerful, but it has a ferocious learning curve to match. Moreover, he overlooks the fact that more features mean more bugs. I think the success of various web-based, minimalist tools has shown that users are quite willing to accept fewer features, if the features that are present work flawlessly.
And even the points that were true as of publication (e.g. ever shrinking prices for CPU cycles and RAM) are no longer true today. If you're writing code today, CPU cycles are definitely not free. You get roughly 4 billion cycles per core per second on a desktop, and somewhere between 1 and 2 billion if you're on a mobile device. Memory is slightly less constrained, but it's rare for desktops to ship with more than 8 GB of RAM, and it's unheard for mobile devices to have more than 1 or 2.
So no, I don't think bloatware is a "mental health problem". I think it's a real issue, and one that's only going to get worse as we run into the limits of Moore's Law.