If not

[JPablo]

Originally Posted by Perikles

But the book says which is explicitly denying the making of a reputation. I just don't see how that can be correct in context. (Note the edit in my post above by the way)

Thank you for your edition/addition in the previous post. It is more helpful than trying to read the full context.

I think the simplicity of the idea is:
You can make money (with bad literature) as well as a BAD reputation.
You can make money (with bad literature) although you cannot make a GOOD reputation.

The bottom line on this riddle and how it could work "both ways" is regarding how one understands the word "reputation" (implying either good or bad).
I.e., "aunque no una reputación [buena]" or "si bien una reputación [mala]".

Not sure if I explain myself, but finally, I got it. (And I agree, with you fully on what we call in Spanish "prosa farragosa" "cumbersome prose".)

[Perikles]

Your interpretation sounds pretty good to me.

[JPablo]

Thank you! (I call it a day!)
(This was quite an interesting exercise, if not a great one... Wow, wow, wow! Don't start again!!)