I believe it is right for a Philosopher to debate about the need for Theoretical Physics to be freed from the need for falsification. Philosophers Philosophize – that’s their department.
Theoretical Physics, however, should it move into a realm entirely free of testability, then it should move out of the Sciences and into Philosophy of Science or perhaps gain its own branch in the tree of Academia.
Not all things in the sciences are falsifiable; Popper was only partially correct, but he did provide a helpful razor to cut with.
But should Theoretical Physics float off into the sky as free from empirical testability, then perhaps it becomes a branch of Mathematics – or have its own department – but again… not a Science at that point, even if it is utilizing methods common to Science.
I’d rather it be seen as a longer “hypothesis generator” that will eventually be tested; but to allow things to be considered Scientific Truths simply because they’re reasonable or mathematically sound? There’s no grounding then. It can be considered True if one wishes, but as a Truth backed by a different set of standards than the rest of the sciences.
Once pandora’s box is open, there will be a ripple effect and a loss of credibility for the sciences as a whole. That would be far more dangerous to me and would lead to an increase in pseudo-science for it will be acceptable to be reasonable and mathematically and argumentally sound….