This is silly. The authors establish that phishing is a serious problem (duh), and that this problem is caused by the absence of reliable authentication of messages (a worthwhile observation, albeit one that the industry is already aware of and doing its best to patch over), but they fail to establish that text-only email solves this problem in any meaningful way. Text-only emails can and will still contain links, wh…
At least with plain-text, it's a slightly harder to forge links. (i.e. you have to do http://www.megabank.com.phishingattempt.io instead of http://www.phishingattempt.io"> src="megabank.com/logo.png"> ) Speaking of JavaScript in e-mail, gmail doesn't allow you to send or receive .js files (even tarred up), which is somewhat inconvenient, and I'm not really sure what attack that prevents. Maybe there is a mail client…
The attack prevented is simply having the user open the attachment, allowing the sender to execute arbitrary JavaScript on their machine in the file:// context. (Modern browsers have made the security consequences of this somewhat less dire than they once were, but it's still not something you want to do if you can help it.)