Put simply, high reading level doesn't mean good content. (trying to prove your point :D)
Is it possible this phrase is an example of itself? :-)
I am sure it was indented as such.I mean, even if you don't care about losing people who don't have time to learn a more precise-but-obscure synonym, there's always people who learned English as a third language. Why alienate them just to look a little clever?
Even this comment has too many big words. If I had more time, I'd edit it down more. "alienate" would become "turn off" and "precise-but-obscure synonym" would become... I dunno, something simpler. Big obscure words that lock people out is really missing the forest from the trees.
If I'm reading something I would prefer it be written as simply as possible. From a writers standpoint though this can be much harder than just explaining an idea in complex terms.
To paraphrase Pascal, "I apologize for the length of this letter, but I did not have time to make it shorter." I like to think length in this case meant complexity.