Is it possible that the guy is talking about 3rd party publisher profits? Given the context, that was my first impression, actually.
The 360 makes a lot of 3rd party publishers a decent profit, relative to the other two consoles, doesn't it? If he's talking about 1st party profits, then obviously he's bonkers, as has been pointed out many times already.
From the 3rd party perspective (i.e. everyone but Nintendo, and the most likely sources of hardcore game content), I think he's correct though -- the 360 yields a lot of income for 3rd party publishers. I think his mistake was not clarifying that point -- I don't imagine he could possibly believe that Nintendo themselves aren't profiting like crazy, after going on and on about their hardware and software successes.
