Definitely some truth to this, but in practice, the fact that you have to manually do things means that you'll make decent choices -- you'll use interfaces for most stuff, and specialize the stuff that needs to be concrete, and life will be OK, if a bit clumsy.

With generics, it's easy to end up in a situation where just by instantiating some simple-seeming class, you get a whole giant pile of stuff, more than any sane programmer would create by hand.

(I wish I had it at hand, but there was an excellent post from a .NET/CLR guy a while back that went into all the crazy stuff that got instantiated just by creating one specialization of List<T>, the associated performance overheads, and the things the compiler and runtime tried to do to avoid those.)