E2E refers to end to end. I imagine he means encryption in transport as opposed to encryption at rest.

HTTPS is transport encryption. It's what keeps your bank account info from being intercepted in a usable state.

Reduction w/o elimination means weakening encryption. The advantage is that it can be easily broken by those who want to see what's inside.

His proposal would allow me (or countless bad actors) to decrypt data captures containing secure traffic, like your bank login. Strong encryption is the minimal method for preventing that.

Presumably like historical encryption, available to the government and the super wealthy. That was what they were attpting when they tried to classify PGP as munitions.

The podcast makes the suggestion that encryption doesn't have to be universal. If most communication were through unencrypted channels then policing would be easier, and the use of an encrypted channel would still be possible for critical communications (although may draw scrutiny).

I use reduced to mean non universal.