That said, yeah, the statute does seem to say that your pilot's license can indeed be revoked for flying weed, so if the federal government elects -- in its sage (?) discretion -- to pull your license, there's really nothing the Ninth Circuit can do about it.
Given the underlying statutory predicate, as a lawyer, I might have suggested to Mr. Fejes that he be a little more low-key about his business. At a minimum, maybe expressly calling his company "Flying High Investments" was a mistake.