Thanks for posting this article.
Kitces is always worth reading, but it's interesting that someone with his sophistication whose primary audience is FA's not the public isn't looking at portfolios that don't need to be radically tweaked to offer decent returns without the downside risk of equity-heavy approaches.
Just as unsatisfying is that he's advocating up to 70% in bonds at one point in the cycle but then qualifying the whole thing by saying more research is needed, AND he doesn't make it clear why the equity allocation would rise in late retirement (with the latter apparently starting close to the end of normal life expectancy, based on his charts!). Legacy or longevity insurance?
It makes a whole lot more sense to me to invest in, say, the Golden Butterfly, Larry Portfolio or even one of the other allocations shown on Tyler's site (there's a great SWR calculator for each allocation that speaks directly to the issues Kitces writes about):