The person you're largely agreeing with is Rodney Brooks (formerly of MIT CSAIL, http://people.csail.mit.edu/brooks/publications.html ).
And to sum it up a bit, the hypothesis is that humanlike AI is as much a product of the experience and reality of being physically (and limitedly!) human as it is any abstract algorithm.
You may also know him from a small company called iRobot (aka Roomba).