"Oh noo, I can't return the results because they are async". That's what callbacks are for. You know what you CAN do? Do I/O in parallel that's what! Node makes it easy.
Anyway I hope this illustrates the point. The guy says it exactly right in one place:
"Once you get your head around thinking in async terms, node.js starts to actually make a lot of sense." And therefore it is not a giant step backwards.