Maybe so, but as the wiki article points out in its criticism section, this excludes Earth, Mars, Jupiter, and Neptune from being planets.
I don't think it's so much folly as much as a waste of everyone's time. "Planet" isn't a natural thing like the speed of light, if astrophysicists want to be more specific about which orbiting bodies they're talking about, which "dynamical processes" they're talking about, they should come up with a new term instead of dragging literally everyone (including the children!) into an argument over definitions. It's like a scientist insisting that "sound" can only refer to this vague thing a brain experiences, and it can't refer to generic vibrations in the air, but some people are still on the fence about whether it can refer to vibrations in water.