With Mdef Gear on, The Paladin will no doubt be taking more damage from Melee attacks.
Normally, As elements said; The Scholar would be doing crappy damage with its DPS, However with Mdef gears on, your reduction goes slightly down the drain.
Say goodbye to Raydric, Toad/Thara, and say "Hello" To Quite a bit higher Crits.
Highpreists Can usually beat them as well, If you count Forcing the person out of PvP A win.
Also - I don't know one Top Paladin who uses a Stat into Peco Riding. Seriously.
Regardless though - web effectively counters that.
Its quite possible to beat a Top Paladin with a Scholar, if you know what you're doing.
Edit: Remember, No one said the Scholar would always Win. Only that its entirely possible to win in a Top teir Duel.