He is right, for me anyway Bitcoin mining is dead.

Using dustcoin to calc my set up of 1200mh/kh 600w power and 0.23c power costs.

I in fact lose $19.70 a month, with litecoin I am making $33.90 a month.

So in a sense he right about Bitcoin, go low powered hardware AKA asics or it's not worth it unless power is free. However he is wrong about litecoin, it still has plenty of room to grow into.