one thing he doesn't realize is that console games have such a limited scope of multiplayer volume. 24 player games are not the future.
Look at Diablo II bnet ladder. It feels like an MMO w/ a large active population, but the actual gameplay is instanced and limited to playing with a team of up to 7 other players at a time.
I think it is reasonable to expect other games will be similar - an MMO feel with instanced gameplay - in a way that consoles can cope with. Maybe Diablo III.