The author is completely right on one point: "...the saying in design: 'if it looks right, it is right.'”
Here's the dirty secret: All logos are designed in a momentary collision of experience and accident. All logos are, in a sense, designed in a weekend. That doesn't mean it isn't done thoughtfully. But that huge research spend? It sometimes guides the design a little, but it's mostly there to reverse-justify the final result (and of course expense) with the client.
He's also asking us to assume the only thought Yahoo ever put into their logo and apparently, their brand, was that one 36-hour period. And the implication of course is that a large spend with an agency would result in a design that's both more calculated and less contrived.
As the author says, bullshit.