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What does the following paragraph mean? The part "But if~flawed" is difficult.

The book "Capital" has charmed the left, angered the right, and renewed popular interest in the field of economics. But if Piketty does set the tone of debate on inequality, the world will be the poorer for it. Like its 19th-century namesake, Capital contains some marvelous scholarship, but as a guide to action, is deeply flawed.

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What does the following paragraph mean? The part "But if~flawed" is difficult.

The book "Capital" has charmed the left, angered the right, and renewed popular interest in the field of economics. But if Piketty does set the tone of debate on inequality, the world will be the poorer for it. Like its 19th-century namesake, Capital contains some marvelous scholarship, but as a guide to action, is deeply flawed.
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