He is absolutely right.
The hardware, software, APIs, etc. are handsomely paid for when you buy the phone. No software/APIs? No Safari, Mail, Messages, Music, or any of the built-in apps. Unlike, say, a console which is a well-known loss leader, it makes perfect sense to use it only with the built-in apps. Add quite a few free apps (from which Apple makes $0) and the phone is perfectly usable for the average user. No, not you: if you're reading MacRumors you're far from the average user. I have some paid apps, but the average user like my mother or my wife have no paid apps.
The joke of a review process, and the senseless limitations placed on apps, are a mob-style protection racket that's forced down your throat whether you like it or not. Then you have to pay for the infrastructure of an app store that, again, you may not have called for -- we could just keep doing what we've always done in our Macs and PCs, which is find and load our own apps. The app store should be just a marketing tool for lazy people who don't mind paying for the privilege of discovering new apps, while developers will accept whatever cut Apple imposes on them and chalk it down as the cost of marketing.