Just read your article … and no, I am not fully convinced.
Consider intending the code. Going by your argument, is it not just about presentation rather than semantics of code. If you read the code carefully (and have enough time on hand) you can make sense of even the most ugly-intended code.
But still, like intending is a useful tool in hand, so is highlighting. And just like different styles of intending you have the right to have your own style of syntax coloring (or lack of it).