Yes, you got the essence of it.

I understand more than 3 words of German, and the money quote, by Döpfner, appears at the 6 minute mark:

"What I would hope... that we do not try now to play from now on the cliché of a super cool Silicon Valley guy [laughter]. Let's really keep some sort of decent German spiessertum."

The term "Spiessertum", and the German "Spiessbürger", refer to people with a particularly narrow-minded mindset, determined by extreme conformism and opposition to change.