The entire video was basically: "Here's stuff I don't like. Ahah, the entire game industry is going to collapse because you're doing stuff I don't like (based on no evidence...ignoring the fact that many of the things he complains about were quite commercially successful)! Do stuff I like instead!"
Obviously things are changing. The rise of digital distribution and mobile gaming has let a lot of smaller developers bypass the traditional big publishers. Things probably don't look great if you're a traditional big publisher...but that doesn't mean the game industry is dying. And it's totally unrelated to most of what he whines about in that video. Gaming on a whole is bigger than ever. It's become an entrenched part of our entertainment culture, not the fledgling industry it was in 1983. There are more people than ever buying games, more people than ever making games, and more ways than ever to get them. They're not about to go away.
By the way, was anyone else seriously annoyed by his take on the whole no-used-games-on-the-PS4 thing? Not only was that rumor debunked before that video was even made (no matter, apparently he doesn't 'believe' that so whatever...), but he even goes so far as to exaggerate things beyond what even the rumors said. In the doomsday scenario he presents he says that if your console breaks you would have to buy all your games again...nevermind that common sense tells you that even if this used games thing was true (which it isn't...), it would almost certainly be tied to your PSN account just like digital purchases, not your physical hardware. In fact the only console maker I'm aware of that has ever tied software purchases to physical hardware would be Nintendo, but I guess he was too busy spending half the video writing a love letter to Nintendo to realize that.
Edit: I might add that his entire thesis that this is somehow like the industry pre-1983 is totally flawed. The shovelware being pumped out back then was often barely even functional. Heck, sometimes it wasn't functional. That's on a completely different level from, "whaaah, I didn't like the ending". The fact that he was able to make it to the ending already shows that the games he is complaining about are still much better designed than what caused the 1983 crash.