This paper engages in a critical discussion of Wouter Hanegraaff's book Western Esotericism and the Academy (2012), acknowledging its importance but also focusing on some points that appear problematic. Particular attention is given to the concept of 'Platonic Orientalism,' the concept of 'form of thought,' and the theoretical basis for a satisfactory etic definition of 'Western esotericism.' Hanegraaff claims that his book offers a solid argument for understanding Western esotericism 'ultimately' as a 'historiographical concept,' rather than as a 'form of thought.' This claim is questioned in the paper.