The argument seems flawed to me: by "killing the web", they refer to the example of a company adding SEO'd information to their website to lure in traffic from web searches. However, me personally, I don't want to be lured into some web store when I'm looking for some vaguely related information. Luckily, there's tons of information on the web provided not by commercial entities but by volunteers: wikipedia, forum us…
But great content creators will want to be rewarded one way or another. Book writers get paid, movie makers as well, so why shouldn't those who share their wisdom in a blog post? If someone is making money off your content and you aren't, you will not be happy. When it's not even attributed to you, it's even worse.
SEO is a response to Google's incentives, and Google can fix it if it wants.