If the ideas are really all he claims they are, sure. If they're just a gloss on cellular automata and don't actually deliver anything new, then all that's left is the arrogance.
Arrogance is not a flaw as far as public perception is concerned. Look at actors, sports personalities, and musicians; however, in this case, we have someone who is working on his cockamamie theories without the support of the scientific community, and the arrogance just wraps everything up in an awful package.
It is a shame because Stephen Wolfram is immensely gifted and has already achieved what many of us in the tech world can only dream about. Mathematica, despite all its flaws, is a fantastic piece of software. Wolfram has no need to scream "I've revolutionized physics!" to the four winds. It's tragic to see an exceptional mind descend into madness.
“Developing a fundamental theory of physics“ is not something Mr. Wolfram can back up.