Which says very little for the 99% of managers who aren't at that level.
He also seems to focus a lot on 1-on-1s being for career advice or feedback to the report versus being a way to build rapport/trust, share information, get a pulse on the organization and get feedback yourself. Again, these things matter less when you're a manager of managers but matters more when you're managing ICs who view things from a non-manager lens.