Maybe he means the general glut of wholly worthless iPhone apps that merely translate some web app or some gimmick onto the device. As an iPhone developer, I agree that most of what is going on falls into the fad category. If that's what he is talking about, then he's right. Don't sink time into building such-and-such for the iPhone when you could be exploring any of the other worthwhile areas he outlines in the list.
And since when providing 'fadware (for lack of a better term) is an inherently bad thing? People are having fun with theire device, for a couple of bucks. Are we geeks critisizing anyone for /that/? C'om on.