Microbial life perhaps, but as far as complex life is concerned, I claim habitability on those timescales will indeed be suppressed. Complex life needs plate tectonics, which depends on a planet's internal heat. A red dwarf star may shine for ten trillion years, but terrestrial planets will be stone cold dead long before then.
Also, talk about correlation does not equal causation at your link:
> The basic structure of the Earth, aided by plate tectonics, makes possible the Earth's magnetic field. Neither Venus nor Mars has such a magnetic field. Venus has core and molten regions like the Earth, but a very slow rate of rotation. It produces neither plate tectonics or a magnetic field. Mars has volcanism, but limited to a small number of spectacularly large volcanoes like Olympus Mons. It's magnetic field is weak despite a rotation period similar to that of the Earth. This suggests that the molten nature of the Earth's mantle that facilitates plate tectonics is also essential for the operation of the dynamo that produces the magnetic field.
I mean, N=3 !
1. We don't have enough data about other solar systems, so we don't know where complex life might exist.
2. We don't have enough data about other solar systems, so complex life probably exists all over the place.
If you're arguing for the first position, fair enough; I might not entirely agree, but it is at least reasonable.
But I see too many people arguing for the second position, taking scarcity of data as a license to believe what they want to believe.