I wouldn't say so, in many severe cases psychiatry can be helpful, but sometimes I am definately scratching my head a little when I read some of those disorder lists, because it makes practically everyone mentally ill.
Has it gotten a little out of hand? Probably. "Create the problem and sell the cure".
Edit: reading the article it does seem a bit overly negative towards psychologists and may come from a bit of a biased and bitter perspective. "Self important, overpaid intellectuals who invent fabricated diseases".. Okay. I think the truth is probably somewhere inbetween, in many cases psychiatry is a very good way to help someone, but diagnosis these days has gone a little over the top. It's dangerous imo to call all psychiatry rubbish as it would undermine people's mental health problems.