I really liked this book at first. Besides dealing with a topic that's very dear to me and, in the second chapter, a novelist that has had a great impact on my life (Wang Dulu being the author of the first full Chinese novel I ever read in Chinese), it's also simply a fascinating, thought-provoking account throughout. However, by the last two chapters, it really starts to lose focus, while in the last chapter especially Petrus Liu makes a lot of absurd statements that are completely unnecessary. For instance, he claims that every Shaw Brothers movie of the '60s was adapted from a work by Gu Long. Leaving aside the fact that they made comedies which definitely weren't adapted from Gu Long, it took about 10 seconds for me to find a Shaw Brothers movie from that decade that wasn't related to Gu Long.
The first chapter looks at Pingjiang Buxiaosheng, Wang Dulu was treated in the second, the third and fourth look at Jin Yong, and the fifth is about Gu Long. The first three were great, the fourth was very fascinating but weak, and the fifth was simply crazy. He moved further away from the thesis with each chapter and had to strain quite impressively to make his case as the book progressed. While I consider the sentiment that these novels represent thoughtful literature, not mere juvenile escapism, quite admirable, he could have made that case without the intellectual gymnastics.