I've got to go reread my Shapiro. But before his smooth writing bewitches me, let me note down the very simple objection that I am currently unable to see how he would answer.
Structuralism is traditionally motivated by the desires to address a problem from Benacerraf: that there are multiple equally good ways of interpreting talk of numbers as referring to sets, so that either answer to "what set is the number 3" seems unprincipled. But now:
If you are not OK with plentiful abstract objects, you can't believe there are abstracta called structures.
If you are OK with plentiful abstract objects, then you can address this worry by just saying that the numbers and sets are different items. Certain mathematics textbooks find it useful to speak as though 3 were literally identical to some set, but this is just a kind of "abuse of notation" motivated by the fact that we can see in advance that any facts about the numbers will carry over in a suitable way to facts about the relevant collection of sets named in honor of those numbers. One might argue that analogous abuse of notation happens all the time in math e.g. writing a function that applies to Fs where you really mean the corresponding function that applies to equivalence classes of the Fs. This route seems like a much less radical move than claiming that basic laws about identity fail to apply to positions in a structure e.g. there is no fact of the matter about whether positions in two distinct structures (like the numbers and the sets) are identical.