Winning Wimbledon in tennis is prestigious because of all the players who won it before and because all the great matches played there. It's because of tradition and living memories. It's the same in chess. The author proposes just scratching it off. His idea is similar to getting rid of Wimbledon and creating some new tournament in Dubai instead.
He holds the title which because of its tradition and all the battles fought for it has big value for chess fans around the world.
You're begging the question here. The author is saying that the title should not have so much value.
New system might be fairer, better, w/e but just because it's new you just lost many fans, interest and sponsors.
The author is too hung up on the rating being an absolute measure of ability, but Elo has its own set of problems (e.g. rating inflation). Anand has very little incentive to play open tournaments and compete for rating points when he can instead spend all his effort defending his title for a big payout.
There is often a difference between World Champion and World Number One.
The whole point of the article is that the current world champion isn't the strongest player in the world. In fact, there are several players that are stronger than he.