Seems fairly honest, for the most part. However, saying that the technology difference has always been the big barrier goes contrary to what he said in the past, when he roasted Nintendo for their lack of communication and for just saying, "here is the console we made, go make games for it."
Still, it seems really, really obvious that someone at Nintendo figured out that communication with western developers is kind of important. Maybe it was just as simple as getting the old guard out of the way. Regardless, the difference is apparent if Pete Hines is now talking about regular meetings with Nintendo.
He's also absolutely right about the idea that "you can still be in really good shape being a distant second." It doesn't matter how well someone else is doing if you're still turning a solid profit or growing your business.