I took a quick look. The piece is better than I remembered. It takes what is a (by now) common point and makes it uncommonly well. The second-last paragraph, in particular, brilliantly summarizes both what people like about LFMs and what (other) people hate about them. Surprisingly, it's fair to both sides.

As for the distinction between LFM and LFSP itself, I believe it's fundamental -- or rather, the distinction between M and SP is fundamental. It explains important facts about the software industry that can't be explained any other way ("if X is so good then how come blah blah blah"). I think M vs. SP is fundamental because of a demographic fact: the population of SP is an order of magnitude smaller (at least) than the population of M. Combine that with the economic fact that the demand for software exceeds the supply of SP, and our world begins to make some sense.

The only thing I'd change is that the terms "smart people" and "masses" are too judgmental. What we mean by "SP" is people with a high tolerance for abstraction. There are many individuals in M (i.e. who have a low tolerance for abstraction) who are plenty smart. Still, this is a venial flaw, because capacity for abstraction is a big part of being a smart programmer.