Great insight into the world of market and investment. Your article kinda serve as an eye opener to those of us who are still at the teething stages in our finance and investment studies.
Inasmuch as I agree with your article I also felt we can't just abandon the MPT when it comes to markets and investment. Human emotions and behaviours though drive the market to a large extent it will be very hard to teach investment and finance without a model representation of the real world situation without certain theories and assumptions like the MPT and the Utility concepts in economics.
So the fundamentals are still relevant in academia and finance models.