It reinforces the snobby Gnostic message that the unwashed masses can't truly appreciate "real religion". I hate Gnosticism in all its forms. Even Atheism is better.
Snobby is in the eye of the beholder, though, right?
I'm also not sure what you think this quote has to do with Gnosticisim, or claims that the "unwashed masses can't appreciate 'real religion.'" I think the point is that "religion" (which again is a dumb way of phrasing it) is a bad vehicle for the important elements of Christianity. How do you relate Gnosticism to this?