Doing well on a test is usually an indicator that you do well on that kind of test. Even good psychometrics tend to fail with calibration problems - the vast majority of these tests were written and calibrated using psychology undergraduates at western universities. That's a significant sampling problem. 
So I'm personally not opposed to selecting for "smart" employees. But I do think that the belief that a short test actually selects for that kind of smartness in any meaningful way is sloppy thinking.
What about people with dyslexia (such as myself)?
What about people who have test-anxiety?
They aren't arguing that hiring smart people is a bad idea, they're saying being dismissive and discriminatory is a bad idea (and illegal, in the US - violation of the ADA).
Out of curiosity, this is a serious question: are you a programmer and if so does dyslexia cause you problems coding? lots of library functions can have confusingly similar names and spellings for me, and I don't have any reading problems.
Generally speaking, good developers are both smart and intelligent.