Regardless of what you think is wrong with Malstrom, and yes I do think some things are def. wrong, he is a relevant analyst simply for the fact that no one else out there is saying and shedding light on what he brings up.
Whether dramatized or exagerated it does not matter because the underlying point/conclusion is what is unique and fresh. What would be horrible is if the environment of video game analyzing was made up of only one or a few people. Each analyst has a bias (like news), some large, some small. But what makes a healthy environment for analysis is when we gain a sort of nuetral element by including people of all angles and slants.
I personally try to look at everything that is going on out there, and that's one reason I like this site and forums like these.
*As a tip, Malstrom, not being a professionally licensed analyst, is best interpretted as a whole, not by one article alone. He can do that because he's just an interesting guy with a blog. I'd demand a more formalized argument from a professional analyst if they bear that title.