I read this a few days ago, and didn't see the point in posting it. I think he is "sort of" right - but he just said what he said badly.
There is no reason why any Xmas should be more/less important than any other really.
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My only comment is this:
This Xmas is now pretty much decided. Its not that Sony won't have a good Xmas - its that Ninty & MS should have excellent Xmas's. So there isn't much to battle over for the coming holiday period - the market will be so saturated, that its irrelevant.
The battle will be fought out by the price point of the PS3/360 - and the manufacturing level of the Wii.
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So in a way, the focus has already shifted to next Xmas - and jostling for position before it starts. The PS3 will be much more established by then, and it will either be "very competitive", or "dead in the water".
I don't think there will be much middleground by Xmas '08.
(at the least, there will be a heated battle between MS & Sony for '08. Who knows what Ninty will be doing).