James Espinosa argues that the Bernoulli equation can be applied to ping pong
balls because the air is not compressed enough to matter. I would say that
the compression of the air is proportional to the pressure difference, so while
Bernoulli might give the right direction for the force on the ball it can not
give the correct quantitative force.
Furthermore, as I recall the Bernoulli equation is derived using the fact
that no external source of energy does work on the fluid. Here, with friction
the ball does work on the air, so this would be a very different mechanism
for generating a pressure difference than the one envisioned by Bernoulli.