Did you miss the word ONLY? Because that was a pretty vital part of his statement, which I do actually agree with. It is sad that there is only one form of content having relevant rewards in the game, especially if it is unpopular. Well, that and the moneysink relic.
Something that I do hope SE will fix somehow. Horizontal progress is important in an MMO in my opinion to keep people online and active. As it is now many people log in one or two days per week, do their lorecap + raid, and then log out for the rest of the week.