More and more people are spending more and more time (and money) on pursuits that have no pay off other than satisfaction.
He's right, of course. But as these people can spend more time (and money) on their hobbies, they require more information about their hobbies. Good "marketing" in this environment is less about promoting our own self-interest, and more about promoting our audience's interests. It's about crafting content for a unique segment of that long tail.