Technically they have one upped their previous E3 show almost every E3 this gen though. I couldn't really call any of those teases by Phil inaccurate.
2014 did have their best lineup in a long time, as late gen 360 E3's were quite weak thanks to Mattrick killing AA/AAA exclusive support for 360 in the later years to focus on Kinect instead, and 2013 only having a few announces like Dead Rising 3 and Ryse.
2015 did have their greatest E3 lineup up until that point.
2016 was a special year, they teased their mid-gen refresh console, announced 3 new exclusives, and had new trailers for many previously announced exclusives
2017 did have more exclusive games shown than in 2016.
2018 was their biggest E3 ever, it was their longest E3 show ever with 50 total games shown between 1st 2nd and 3rd party, and they announced multiple studio acquisitions and several new exclusives.
He barely hyped up 2019, and indeed 2019 was their weakest E3 of the generation as I recall, it was quite obvious that most of their studios were saving up announces for the next-gen Xbox, which we now know to be Series X.
So basically Phil seems to be exaggerating but in reality he is always trying to one up his performance from the previous year and does so (except 2019, which you yourself said he didn't hype). Interesting. Instead of viewing him as an overly excitable fellow over nothing, I can appreciate him as someone who is always competing with his past self and doing well at it.