Ed's posts are peak preaching to the choir, they're usually factually correct but he is really bad at convincing anyone who doesn't already strongly agree with him.
Have you seen his recent Bloomberg appearance? He's calm, collected, and matter-of-fact -- the complete opposite of how he presents himself on his newsletter and podcasts, but with the same argument. You wouldn't know from listening to him how spicy he usually is.
It's tuned to the audience. Bloomberg was traditionally for people who actually wanted information. People who were fallible and had limited knowledge.
Of course that mentality is obsolete. Now we all have infinite access to perfectly correct information via the internet.
Perhaps that’s it. I would tend to agree with his position, I think, but don’t appreciate being preached to. Even less so when I agree with what’s being said.