I don't recall that particular comment, though I know that some people in Campbell River are trying hard to turn CR into something of a tech centre. There's a really great buzz on the island right now...
I thought it might have been spitfire who commented to that effect. But that was some months ago; I guess I could wade back through history.
I liked Victoria's ambiance when I visited, but the friend I was visiting there (already half a decade ago) commented repeatedly to the effect of it being/becoming a retirement community. With lots of well-off retirees to bid up prices.
Does the island really have enough going on elsewhere to create a general buzz?
Victoria is definitely doing more tech-wise that Campbell River or Courtenay, in that there are more tech companies, more startups, and more tech jobs. As with anywhere outside of a major hub, you're going to have to do a lot of leg work to find those jobs - and to find ones that pay well.
As you've mentioned lots of well off individuals bidding up prices and a very conservative, risk averse climate.
As for the island creating a buzz? I don't think so, not in the competing with SV or NYC sense. I could certainly see the island serving a niche ecosystem though.
In fact, if the media could get over itself I think they could have a big part to play in growing that sort of environment.