He was right because there are architecture-astronauts who overdesign things that they don't understand yet.
He was wrong, because the mistake of architecture astronauts is not that they want to solve a template to a lots of problems. Solving a template to a lots of problems can be a huge business. Think of the personal computer. Think of MS Excel. Think of Oracle. It is just very hard to get these things right, because it is very hard to see the market for these generic products in advance. Also generic things are very technology heavy usually, so hard to convince investors. (Maybe I am just defending myself here, because I am also working on a generic application which is about helping businesspeople to access/maintain/query their data intuitively. (Like Excel just with a bit more constraints (with relational db. server backing))).