Prehaps there needs to be a more precise definition of dyslexia so that everyone knows what we are talking about.
I think that what the professor is saying is that all children with reading problems are deserving. He feel rather than spending lots of money on diagnosis of mild dyslexics we should use to the money to sort out the reading difficulties at an early age. Children with high IQs and low IQs both respond to intervention programmes equally well.
Personally I think that a lot of SEN money does get wasted. For example I know someone who got given a free laptop because he is dyslexic to do teacher training (9 month PGCE course). He has been allowed to keep the laptop even though he has dropped out of the course. Surely he should have been made to return the computer to the LEA so that another student could use it.
My little boy who has a mild hearing impairment gets no extra help whatsoever. He is doing well, but struggles with spelling tests because of the background noise of the classroom. He would benefit if an LSA took him out of the classroom to a quiet place