That's roughly my interpretation too -- there's no way Japan could out-manufacture US industry, and the difference in materiel, ship building and aircraft production wins out, even if Midway had been a catastrophic US loss.

I suspect a couple of years longer is much nearer the mark than a few months as the Japanese dug to never surrender, but second guessing history is a no cost game... Who knows what other dominoes would have fallen, and where, in the extra time.