Yep, penetration, as stated above.
Far be it from me to speak for Erich, but if you read the second part of his mantra, "penetration is queen", IIRC, you'll get a handle on his thoughts.
Typically, short barreled pocket semi-autos don't generate the velocity necessary to reliably expand hollow point bullets. Ergo, even with a hollow point, the bullet may well NOT expand. So, in essence, you're shooting a FNJ with a sometimes non-functioning hollow point profile.
Additionally, MOST pocket autos are PROBABLY a WEE BIT less likely to malfunction with FMJ rounds. MAYBE....... (I tried to work that last sentence so that 100 guys with pocket autos that have never malfunctioned with hollow point rounds will not feel compelled to inform us of such.)
YMMV.
dan