Entertaining read, but many of the arguments are unfair. Two Chicago-Booth School of Business professors won the 2013 Economics Nobel Prize, as numerous business school professors have in the past. Just because they are not coding iPhone apps doesn't mean they aren't contributing value to the world. Google, Amazon, IDEO and Apple are among the leading givers of jobs at top b-schools now, so it's mindlessly cynical to say that everyone's becoming a consultant or banker. Lastly, the writer of the article runs a paid 12-week entrepreneurship bootcamp, which is his axe to grind against MBA programs. It's great to run a unique and much-needed program such as this, but it's not great to make your little kindergarten setup the centre of the universe.
Somebody seems to lack an appreciation for satire. Probably a B-School grad.