The way you selectively quoted: yes, you removed the refutation.
And regarding the iAPX 432: it was slow in large part due to the failed object-capability model. For one, the model required multiple expensive lookups per instruction. And it required tremendous numbers of transistors, so many that despite forcing a (slow) multi-chip design there still wasn't enough transistor budget left over for performance enhancing features.
Performance enhancing features that contemporary designs with smaller transistor budgets but no object-capability model did have.
And regarding the iAPX 432: it was slow in large part due to the failed object-capability model. For one, the model required multiple expensive lookups per instruction. And it required tremendous numbers of transistors, so many that despite forcing a (slow) multi-chip design there still wasn't enough transistor budget left over for performance enhancing features.
Performance enhancing features that contemporary designs with smaller transistor budgets but no object-capability model did have.
Opportunity costs matter.