This is exactly what he says.

... it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer  

This is contradicted by himself at the end...

That said, it represents a remarkable conceptual and technical achievement, which may well be used by existing financial institutions (which could issue their own bitcoins) or even by governments themselves


What he really says is that bitcoin has no

accountability, arbitration, or recourse.

At the end that is his only concern. What he doesn't understand is that Bitcoin really has "accountability, arbitration, or recourse" but it's always an option.