"Pinch" lower blepharoplasty for saggy wrinkled under eye skin unmitigated by peels, retinol, and fractional CO2 laser?

It is still too early to see the final result of a fractional CO2 treatment, I would wait a few more months. At that point you can consider re-treatment with fractional CO2 or CO2 laser. CO2 will give you the most tightening, but has a longer recovery period.

A pinch of skin is safe to do if you actually have excess skin.  However the pinch does not change the texture of the remaining skin.  For that you need the laser treatments.  Many people need 2-3 fractionated CO2 treatments to see significant improvement in the texture.  And if you are fair skinned, you might want to consider a full CO2 laser which gives the best tightening.  If you are volume deficient some filler will also help to stretch out the skin and make it look smoother.    

The problem with a 'pinch' blepharoplasty is that it can change eye shape.  An almond shaped eye can be pulled down in the center, causing a rounded appearance, or in the corners, causing a sad appearance.The lower eyelid is a very weak structure, and subtracting from it by the pinch method exerts a downward force, causing the skin to sit lower on the globe or eyeball.  This even occurs in the best of hands with this technique, albeit subtly. We usually rely on an ultrashort incision cheek lift to reduce crepey lower eyelid skin, elevate the eye cheek junction, deal with the lower eye fat bulging, but preserve almond eye shape.