No, it suggests it's possible to replicate a few particular businesses with sufficient success

All startups (by Paul Graham's definition) rely on massively replicating a successful business element, for example.

The boundaries of a firm are, in certain ways, arbitrary. A firm can "replicate" by selling franchises, but it can also replicate by opening new offices, new factories, etc.

Some examples: the big four accounting firms, test prep, offshore drilling, cell service infrastructure...