No, I think it's that real names are bad for privacy, but friends can find you more easily using your real name. Google+ doesn't suffer much if you damage your career using a real name, but it does suffer if your friends don't find you and so you go back to facebook.
Google could easily promote and encourage real names a la Facebook and still let pseudonymous profiles slide. I think that the typical first/last name convention is good, and that it'd be fine to require pseudonyms that follow that convention.
Friends can find you more easily using your real name? Try that if you have a very common name. There are over 80 pages of G+ results to sort through if you have mine, and I have it easy. Friends with common Chinese or Indian names have it a lot worse.
