His argument was about 360 living up to expectations and PS3 not, which was largely true. Sure, there were a lot of "Xbox 1.5" comments, but Microsoft showed a lot of stuff even at launch that was way beyond the previous gen, they revealed Gears of War and that was probably the first real "next-gen" title that showed the possibilities of the system.
I just don't see Sony pulling another PS3, showing a lot of CGI footage that they will never be able to adequately present in real time on future games.
Nor do I see Sony as having a lack of content to show.