AAAPIT (I am a psychometrician in training).
He clearly knows nothing about psychometrics, and is pretty much a fool for assuming that the people who put together the tests have never bothered to think about such elementary problems. There is well-developed statistical methodology behind the scoring of standardized tests. Most licensing tests these days are put together with Item Response Theory, which gives the test developer a very precise idea of how much of a role guessing plays in each question. (You might be surprised to find that the floor guessing parameter is not just based on the number of choices; it varies depending on the details of each question). IRT also yields a test information function that lets you see how much information the test is giving you along the range of ability levels.
The argument he makes about deducting fractions for incorrect answers (known as "formula scoring") is BS, because no standardized test ever reports just the raw score. Different forms of the test differ in difficulty, and so must be equated to one another. In the process, raw scores are converted to scaled scores, and the conversion is typically not a linear one.
Formula scoring results in lower raw scores than if you don't apply the penalty (dichotomously scored), but all that means is that the range between the lowest and the highest raw score is a less with the dichotomously scored test. If that range is too small, you can always add more questions.
Suppose you took two versions of the same test, one dichotomously scored and one with formula scoring. (Assume for the purposes of simplicity that there's no measurement error.) Yes, you would get a higher raw score on the dichotomously scored test, but so would the whole test-taking population. Your percentile rank would not change, and the scaled score would work out still be the same.