Yeah, 100% agreed. Engineering and CS are way more creative than any business school will ever understand. Obviously this article wasn't written by someone who knows what he's talking about.
The risk profile might be a fair point. If you look at engineering and CS salaries though, it's logical to take less risks. Because the low risk option pays a lot more than in other fields. This makes any higher risk option inherently less attractive.
There's risk in managing an engineering career, though you're correct that there's a floor on that risk. Engineers, especially early in their careers, need to manage their personal development. I often talk to developers that have been writing terrible enterprise products for the same company for a decade. They're typically underpaid and underqualified to find a better position elsewhere.
One way to look at that is as poor risk management. Having marketable skills is mitigating risk that the job pool will not be a good fit for your skills next time you are looking for a job. Switching jobs periodically is generally more risk than not, and it's basically required these days since market rates for good software engineers grows a lot faster than employers are comfortable with. Most business models do not survive 10%+ growth in payroll every year.
The risk profile might be a fair point. If you look at engineering and CS salaries though, it's logical to take less risks. Because the low risk option pays a lot more than in other fields. This makes any higher risk option inherently less attractive.