That's... not what Linus said. To paraphrase, he doesn't like the anti-tivoization clause for his own code because he would rather get driver patches from Tivo that he can use on other hardware than prohibit them from using Linux, and he doesn't like how the or any later version clause is being used to make nontrivial changes to the license, which is why he didn't use it to begin with.
Linus exaggerates kind of a lot. People need to understand that. He said that he "hates" GPLv3, by which he apparently means only that he prefers GPLv2 for Linux, and then goes on to say that GPLv3 may be a great license and he has no problem with people using it for other software.
And I still don't see anything in GPLv3 that you would expect anyone to find shocking or highly objectionable. It's basically just patching the unintentional holes people have discovered over time in GPLv2. 99% of people would never even want to do any of the things it prohibits over the GPLv2.
But as the article notes, some proprietary software companies like to spread FUD, and so a lot of FUD has been spread.