I do not think this is what the piece is arguing. Rather, the concern is that by creating these 80/20 splits, the core values of the university are compromised. There's nothing a priori wrong with industrial research, it's this attempted hybrid that's problematic. Hence the title, "you cannot serve two masters".

Quoting the piece, "Part of the point of being a big company is to control your environment by crushing, containing, or co-opting inconvenient innovations." I think the author is arguing that attitude is fundamentally at odds with the values of the academy.