Michael Pachter is typical of his generation. Grew up in the 1960s, got a free ride in college, started a career in market analysis, and is now a lead analyst on a form of entertainment he never grew up with and most likely does not currently play.
I still remember Pachter saying that Red Dead Redemption will not be a blockbuster. There are plenty of examples of him and Anita Frazier being dead wrong, but that can consume a whole 'nother thread.
Pachter is wrong and remember, he is writing for people his age in positions of influence to tell individuals and institutions where to put their money. He is not writing for us, he is writing for quarterly report minded folks who make business decisions in the same way a 5 year-old chooses which color of crayon to scribble with in Kindergarten.