The new paper purports to deal with those criticisms. To my limited understanding it appears to be an argument against how the Hamiltonian is currently formulated in Verlinde's theory than a proof against entropic gravity.
A reason that is theoretical must be backed by experiments. You cannot have one without the other without entering the religious realm. And you cannot have a completely mathematical explanation of reality because your axioms must have experimental backing.
As I understand it, emergent means the behaviour of a collection of entities that comes about due to their interactions in a way that is not predictable from a full theory of its constituents.
The opposite of an emergent theory would be a reductionist theory.