Patents don't hold back global progress any more than capitalism keeps people in poverty. If we went back a few hundred years and impose alternatives, would we be better off today? I doubt it.
The whole point of the patent system is to foster innovation, and free exchange of ideas. Without the patent system, people are incentivized to keep their inventions secret, and hide how they work, but patents require publishing the details. Some companies don't patent some things just so they can keep it secret.
The problem with the patent system is not the concept of patents, but what they've been allowed to apply to and how long the terms have increased.
Him patenting the idea meanshe has control over his options. It also prevents another entity, such as Intel or AMD discovering it and patenting it. If he wants, he can make it free to use for non-profiting or open source entities.
Edit: The capitalism / poverty comparison is meant to infer communism, as the alternative to a competition and financially motivated system. I don't think it's contentious to say capitalism ended up being the better system for getting people's standard of living raised, even is communism sounds good on paper. I don't think the relation to the patent system in comparison to some ideal sounding solution where people get some money somehow for giving their ideas to the world immediately is all that strained.