"For not a whole lot of money and time you can get something out there and see if it works."
This has been true for some time, and anyone with any technical inclination whatsoever has already figured that out. However, it doesn't mean his other conclusion is true:
"One thing is for sure: no entrepreneur can tell me that he needs $1 million, four programmers, and six months to launch this kind of company."
The reason it was that cheap and took that little manpower to build was because the idea was so simple and fairly derivative. It's basically Digg for rumors. Hey, it might work and a lot of people might use it, but you won't find many ideas that can be built off of a Wordpress installation, even though Pligg would've been a better choice as the linked article states. If your idea amounts to a list of things that people vote on, then yes, it will take very little time to build. There just aren't that many groundbreaking concepts that fit into that mold. I guess it depends what he means by "this kind of company", although there aren't many definitions that would render his conclusion valid. The vast majority of ideas will take a couple of months and a few programmers to put together, although he's right about the $1 million.