This is the first time I've read one of these blogs where the author complains about it being "practically impossible to fire someone". To me, that adds an air of authenticity to the complaining. In my experience too, the inability to fire people for reasons other than "this person is a real jerk" has been a looming problem.
As far as work-life balance goes, I think I agree with him there too. I have a lot of privileges and I assume Google employees have even more. But the flipside of that is that, when there's a deadline, I'm very invested in meeting it, even if that means working a lot of hours. To me those two things are related: the privileges are justified by the periods of intense, focused work.