Calling something stupid does not mean the author is saying there is no money to be made in such things.
It's dismissive, and you should never be dismissive of something that makes $250m per year. It clearly has a lot of value that the author doesn't understand, and since he has dismissed it he will never tap into that. That hurts him.
I don't like Twitter (which makes $0m per year) very much, but I try to understand it, play with it, and find out what people do like about it because it will inform product design decisions that I make in the future. I know that a LOT of people do like Twitter and therefore it cannot be stupid. In fact in some ways it must even be brilliant.