I take it more to mean that the way Bono tries to alleviate problems often reinforces the power of a system that is largely responsible for mass poverty and environmental destruction, and that's definitely a valid viewpoint.
The system is the problem, and nothing will really change unless the system of global corporate dominance is changed. Working to change the global economic system is no more absurd than working to eradicate AIDS in Africa. In fact, it's probably a lot easier because it can be done through governmental regulation, but that would require campaigning against the corporate elite, and they're the company Bono's been keeping for the last 15 years, so that's not going to change. Also, it would make for awkward run-ins in chi-chi NYC establishments and restaurants in the south of France. Imagine giving a speech about how, say, Apple needs to actually pay its slaves and stop using materials that owe their existence to conflicts, and then running into the CEO in your elevator, or at the gym.