Part of what he said is true. A lot of unoriginal bland sequels have been ruling the market for a while now, however that's the same with all walks of life. For example The Sun and the Daily Mail are the best selling newspapers even though they're piles of garbage, just because something is a top seller doesn't represent the quality of the item. But there's been loads of great quality sequels as well (Mass Effect etc).
Also, Indie games alone in the last 5 years have shown how creative, brilliant original ideas can come to life.
Overall though it's not been a poor five years at all. A little stagnant? sure, but you just have to look a bit harder for those gems.