The blog post is full of great one-liners, like "Surely our minds can find more enjoyable activities than chewing." The guy comes across as very earnest and attempting to be rational about his invention, which is a welcome departure from your usual fad diet pusher.

That said, the OP is unduly optimistic and uncritical. The odds of a dietary breakthrough of this magnitude being missed by the meal-replacement manufacturers are not high, though it is, of course possible.