I think ``ironic science'' is a useful concept. However, this particular article is a bit strange. The title has ``Science running out...'' but in the body of the article he almost solely talks about physics. How about molecular biology? No hope for great discoveries? And pure mathematics? Maybe, he does not think mathematics is a science...
As for physics, it does indeed appear to be in crisis. It seems that physics is running out of fundamental problems which can be approached within its traditional methodology. But at the same time, this methodology is extremely valuable. Perhaps the right solution is to go towards becoming a ``multidisciplinary environment''. That is, to inject the methodology of physics into other fields of science. For example, many ideas of modern mathematics were inspired by string theory. This is a manifestation of the usefulness of the physicist's way of thinking.
It would be a pity if physics dies, or even worse goes into that undead state which Horgan calls ``ironic science''.