The point isn't that an odds ratio of 1.2 is too small to be important. It is that if the estimated odds ratio from the study, with all its biases, is 1.2, the

The point isn't that an odds ratio of 1.2 is too small to be important. It is that if the estimated odds ratio from the study, with all its biases, is 1.2, then one can't be at all sure that the actual odds ratio is even greater than 1. (An odds ratio less than 1 would indicate that red meat was protective, rather than a risk factor.)