Woke is all rituals, no substance. If anyone profits off it, it is highly educated individuals that belong to the visible minorities = precisely the people that don't need so much support.
Woke is deeply uninterested in actual problems of the poor non-academic population. High cost of living? Food deserts? Meh. That doesn't register on the high-brow radars.
Is that really the only real-world impact? Is there no value in examining the link between how we refer to people and how we treat them? What about the affirmative action aspects of wokism---is there some impact there?
If you define woke as only the people performing meaningless rituals, then of course you're going to dismiss wokeness. But not all of it is meaningless ritual, affirmative action has created real change. And I would argue that efforts to take pejorative terms out of language are worthwhile, even if some people get overly academic about it.
I personally find it preposterous that language policing by universities and social media sites (and virtually all of his criticism is about that aspect of wokism, and not affirmative action) is somehow worse than systematically jailing millions of people and denying them economic opportunities out of bigotry. But even if you think it is, the article doesn't even attempt to make that case. He just notes in a throwaway line that "Racism, for example, is a genuine problem. Not a problem on the scale that the woke believe it to be, but a genuine one." (Emphasis mine.) And that's about it on how bad racism is vs how bad woke is.