The author's basic premise stands: Japan has undergone a post-industrial transition where the sudden prosperity of post-WWII generations was quickly followed by stagnation of those coming of age later; the shrunken opportunities afforded to the younger cohort leads them towards idle leisure, or anxiety-filled corporate drone work. The nature of consumerism has changed: there's still outward signalling but the goals have coalesced around personal experiences and fulfillment within an intimate group, as opposed to nebulous segments of the society at large. This makes for an interesting comparison with South Korea, where the nature of consumerism has become markedly more extroverted instead.

The economic and demographic points are fair, but the author tries too hard to tie elements of Japanese culture in with American trends. Yes, Japanese animation has mainstream appeal, but not universally. Video games can be pointed to as the most successful cultural export, but enduring appeal of Mario, Pokemon, and Link isn't functionally more different than Lego or Barbie in their respective times. If the world of video games were devoid of the above, they would be more realistic, more violent, with bleak storytelling and morally ambiguous characters, as we've seen from typical Western AAA games, so perhaps ironically, Japan's most influential cultural export is optimist escapism.