No, that's not why it's dismissed. Security experts don't advocate for PGP for two reasons:
1. It requires constant vigilance. If humans en masse were capable of constant vigilance in a security context, we wouldn't really have a problem with phishing in the first place.
2. PGP uses relatively old cryptography which is easily misimplemented and doesn't feature forward secrecy. So again to maximize security you have to rely on your users doing something manual: in this case, generating and sharing new keys at some interval, which then need to be verified on the other end etc.
Speaking to the more general point on phishing: people on HN are usually very overconfident in their ability to spot phishing emails. It's easy to spot simple ones reliably. It's fairly easy to spot pretty good ones when you're expecting it. It's functionally impossible to consistently spot very good phishing emails. I say this as someone who has run simulated phishing email campaigns on software engineers in a large tech company. Even many security engineers would get caught out by the best phishing emails, and what's worse: the set of engineers who would be fooled would change depending on the day you ran it.
Humans are fallible. Attackers do not need to compromise most people in your org. They need just one person with privileged credentials to have an off day and not run through an unrealistic checklist, in an organization with hundreds to tens of thousands of people. The best phishing emails will combine excellent social engineering with a legitimate technical break that privileges them to send email on behalf of a domain. You will not spot this reliably, no matter how technically savvy you are. It will pass the technical checks you have.
The best approach to mitigating phishing campaigns is endpoint security. You should obviate the need for employees to even use passwords in a corporate context, and you should use authentication systems which aren't phishable.