The amount of productivity available to Mr. Kamp for free today is conservatively double or triple that available in 1999. Databases, web frameworks, scale know-how, IDEs, hosting platforms, the list goes on.
He harkens back, sadly, to an era in which codebases like Genuity Black Rocket cost $100k in licensing, and ran on $30k/month Sun servers. Seriously.
Languages are faster, development times are shorter, and chips are WAY faster. And, code can be pushed out for tinkering and innovation onto github for free. Combine that with his estimate that we have 100x more people in computing, and the combination is a riot of creativity, crap, fascinating tech and everything in between.
The bazaar is messy, but I'm not aware of any solid critiques which show cathedrals are more efficient at the multiples-of-efficiency kind of gains we get from legions of self-interested, self-motivated coders.