I'm surprised to hear that. I have never read Applied Cryptography, but I find that an incredibly damning simile (though maybe it wasn't intended to be?). Didn't Schneier develop Blowfish?
I stand by my comment, however harsh it may seem. Some of the disdain held by cryptographers, especially of a certain generation, is in no doubt a reaction to Schneier's prominence in the public eye as Mr. Crypto. The fact that he is highly quotable and media-savvy makes him a go-to person whenever a comment is needed on something (anything!) happening in security.