Love this, and agree with almost all of it.

The only quibble I'd have is with "1:1's happen organically and infrequently" - I think this is based on a misunderstanding about what 1:1's are for.

Regular, formal, 1:1's are the opportunity to get above the work and talk about meta stuff - career direction, morale, interpersonal issues, etc. It's the founder/manager's chance to check if the employee is happy and thriving, or if there's something that needs to change.

These sorts of conversations can happen organically, but often don't, and can be awkward if they do happen organically. Getting the awkward out of the way with a formal agenda can really help to get into the guts of it. Rather than having to manipulate the conversation to get to an emotional item, the manager can just flat-out ask the question because it's on the agenda.

Obviously, you can overdo this, and it can turn into a nightmare for folks so I can see why TFA proposes eliminating them. But properly done, formal 1:1's are really valuable even in small teams.