This paper discusses a number of consequences that – although not always intended by the author – can be drawn from the radically historicist approach adopted by Wouter J. Hanegraaff in his monograph Esotericism and the Academy. These consequences are the atomization of ‘esotericism’ into a disparate range of ideas, practices, and currents with few if any shared elements; a better approximation to contemporary anthropological views of culture and cultural innovation; a focus on polemical strategies rather than substantive contents and a concomitant possibility of cross-cultural comparison; a reluctance to engage with theories of broader scope; and a vacillation between seeing ‘esotericism’ as merely a waste-basket category and attempting nonetheless to salvage a minimal substantive definition.