Have to say I'm not convinced by Collina's arguments in the article.
Players waste time to break up the flow of play and give their team time or get a breather & reorganise as much as waste time in my opinion. Adding additional time on will not stop that element of it.
I think the best solution would be for referee's and authorities to take a much stricter line on time wasting and book players much earlier when it happens and then have the back bone to actually send players off if/when it continues. Too often I feel officials leave it too late in games to issue cautions to have an impact. I also feel referee's are so unlikely to give a player a second caution for timewasting that players continue to time waste even after a yellow in that knowledge. There would a short term uplift in dismissals for timewasting - but I feel it would have the greater long term impact rather than adding 10+ minutes of stoppage time, in which players will still run the clock down and disrupt the flow of the game.