This article started well, but the list of "frat-boy ideas" was actually quite poor and unhelpful... seemed more like examples of business types the author doesn't like rather than inherently stupid ideas.
Also, he seems under the fallacious impression that better ideas are somehow easier to implement. Sorry, pal - good ideas are just as hard to pull off as bad ideas.
Good ideas have a better chance of success - but they also take stupid amounts of work, luck, timing, skill, etc.
The t-shirt idea that he mentions, for instance, is a good example of an idea that is neither good nor bad. Basing a business around a handful of t-shirts is obviously a bad move, but a t-shirt business can certainly be created - and in fact that has been done many times already. There's nothing inherently bad about the idea.
You could say that building a search engine in 1996 is an very difficult idea - lots of hard work, little chance of success, lots of established competitors, and requires a rare breakthrough, incredible amounts of work marketing the new engine and getting all sorts of larger companies to use it, etc, etc. Does that make it a bad idea? Hardly.
Ideas are only a small component of success - execution is far more important. If the aforementioned frat boy are willing to give it their all and are competent enough, they can likely make any of these ideas succeed. Even if they fail, it's at least a great learning experience. I say go frat boys, go.
Also, he seems under the fallacious impression that better ideas are somehow easier to implement. Sorry, pal - good ideas are just as hard to pull off as bad ideas.