Patrick has a number of valid points but as far as I know Colin is well aware of almost every one of them. Just like other people shouldn't be telling Patrick how to run his business Patrick would do well to recognize that Colin and he have different drives and factors not easily digested into a blog post (however well intentioned) that equate to optimizing conversion or maximizing the number of dollars taken out.
None of this could not have said in an email to Colin, and as such it serves as a way for Patrick to show publicly how good he is at fixing problems that are related to marketing and conversion, it does very little for Colin other than to make it very public that he's not running his business in a way that caters to most enterprise types. And that's possibly a good thing, depending on what your assumptions are on what motivates Colin.
I'm going to send my own $0.02 on what Patrick wrote to Colin in an email rather than to post it here for all the world to see, Both Patrick and Colin are good men and I'd rather see stuff like this happen in private.
The road to hell is paved with good intentions, and even writing a solicited blog post is not always the best solution to the problem at hand.