I doubt the author would admit it, but, I think a lot of hyperbole is due to long-standing "Mac devs" and the author's circle of friends and acquaintances being unable to sustain a living from (merely) writing their own apps. Which is especially frustrating for them as the audience has grown dramatically over the past 5+ years.
Sure, the supply has grown considerably, and with that there are more 'light, snackable, mass-market apps'. But, that's what happens when the barrier to entry gets lower, and supply increases.
It is a true shame when we lose gifted 'indie' developers and some truly fantastic apps. But, no one has a right to a living.
Interestingly, and perhaps a hidden message in this article, is that there are significant parallels to draw to journalism.