Indeed. I'd heard about this before, so this is not news.

Since many studies end with small effect sizes, but we count significance rather than size, their effect is magnified further.

This is what I want to hear more about. Given 5% dupes, how much significance and effect-size does this leech away? My intuition says this could explain a non-zero number of failed drugs, but not the entire dismal litany, but intuition is far inferior to some worked-out numbers.