Is it solely the "Man in the Arena" paragraph that makes you feel this way, or the entire thirty-five page speech?

How about,

"Money-making, the money touch I have spoken of above. It is a quality which in a moderate degree is essential. It may be useful when developed to a very great degree, but only if accompanied and controlled by other qualities; and without such control the possessor tends to develop into one of the least attractive types produced by a modern industrial democracy."

How about,

"In short, the good citizen in a republic must realize that he ought to possess two sets of qualities, and that neither avails without the other. He must have those qualities which make for efficiency; and that he also must have those qualities which direct the efficiency into channels for the public good. He is useless if he is inefficient. There is nothing to be done with that type of citizen of whom all that can be said is that he is harmless. Virtue which is dependant upon a sluggish circulation is not impressive. There is little place in active life for the timid good man. The man who is saved by weakness from robust wickedness is likewise rendered immune from robuster virtues. The good citizen in a republic must first of all be able to hold his own. He is no good citizen unless he has the ability which will make him work hard and which at need will make him fight hard. The good citizen is not a good citizen unless he is an efficient citizen."

How about,

"The citizen must have high ideals, and yet he must be able to achieve them in practical fashion. No permanent good comes from aspirations so lofty that they have grown fantastic and have become impossible and indeed undesirable to realize. The impractical visionary is far less often the guide and precursor than he is the embittered foe of the real reformer, of the man who, with stumblings and shortcoming, yet does in some shape, in practical fashion, give effect to the hopes and desires of those who strive for better things. Woe to the empty phrase-maker, to the empty idealist, who, instead of making ready the ground for the man of action, turns against him when he appears and hampers him when he does work! Moreover, the preacher of ideals must remember how sorry and contemptible is the figure which he will cut, how great the damage that he will do, if he does not himself, in his own life, strive measurably to realize the ideals that he preaches for others. Let him remember also that the worth of the ideal must be largely determined by the success with which it can in practice be realized. We should abhor the so-called "practical" men whose practicality assumes the shape of that peculiar baseness which finds its expression in disbelief in morality and decency, in disregard of high standards of living and conduct. Such a creature is the worst enemy of the body of politic. But only less desirable as a citizen is his nominal opponent and real ally, the man of fantastic vision who makes the impossible better forever the enemy of the possible good."

How about,

"Individual initiative, so far from being discouraged, should be stimulated; and yet we should remember that, as society develops and grows more complex, we continually find that things which once it was desirable to leave to individual initiative can, under changed conditions, be performed with better results by common effort."

How about,

"Of one man in especial, beyond any one else, the citizens of a republic should beware, and that is of the man who appeals to them to support him on the ground that he is hostile to other citizens of the republic, that he will secure for those who elect him, in one shape or another, profit at the expense of other citizens of the republic. It makes no difference whether he appeals to class hatred or class interest, to religious or antireligious prejudice. The man who makes such an appeal should always be presumed to make it for the sake of furthering his own interest. The very last thing an intelligent and self-respecting member of a democratic community should do is to reward any public man because that public man says that he will get the private citizen something to which this private citizen is not entitled, or will gratify some emotion or animosity which this private citizen ought not to possess."

For my part, while there are a few sections I find questionable, I largely like the whole thing.