Allegations of security theater should start with discussing the threat model. This is just somebody complaining about a crappy key card system.
To be fair, he was pointing out that the invisible "credentials in cookies" issue was much harder to get fixed: The turnstiles were visible. They were expensive. They disrupted everyone's day and made headlines in company-wide emails. Management could point to them and say that we're taking security seriously. Meanwhile, thousands of employees had their Jira credentials stored in cookies. A vulnerability that could e…
Aside: the more times I re-read the article the more annoyed I am with the self-righteous tone. It feels like the author is mimicking the style of legendary Usenet posts, but the story just isn’t that interesting and the writing not that witty, it falls flat.