As far as the article puts it, raising too much money could be seen as built-in sunk cost and avoiding that is sound, but other comments have raised valid justifications for extending runway.

I feel inclined to agree with the article. If I ever have the fortune of raising money for a startup I created, I would be very unlikely to ask for money explicitly just to extend the time waiting for it to take off.

PS: Off-topic but I remember that a similar point was raised in Silicon Valley (the series).