At least he's being honest. But it is a bad move.
Long term it gives no reason for an existing PS users to move on to the next generation.
I hate how I have to rebuy games. This was one of my favorite things about Sony.
What am I going to do with all my PS1 and 2 games when my slim breaks and they are no longer servicing them? I hope they license out the manufacture for PS2 when they stop making them.
I would cite regulation, but I know you will simply ignore it.