That does make his opinion somewhat suspect, but still understandable. There are some issues with cell that are frustrating. First was the complete lack of tools and help, although Sony has been coming on strong in that department recently. Second, if you depend on a long standing codebase, code that you've been using for 20+ years, you can basically toss it to the trash as both the code and how your data is arranged needs to be totally changed to accomodate cell.
Those first two points are more inconveniences though that anything else. I think the real problem here, and why you won't see the PS3 leapfrog the 360 in cpu power is because they only put one cell in there. It was designed to work together with other cells so it seems like an odd choice to only include one, although it could be because the cost of including bluray blew the budget so they had to make do with one. The spu's may be faster than the three tweaked vmx units included in the 360's ppu, but you still only get ~5.9 or so spu's at most available, mostly likely somewhat less because you need them to help the rsx. Plus, there are some odd ommisions here and there. For example, the vmx units on the 360 can do a hardware quad word dot product which as far as I can see is not available on the PS3's ppu or spu's (why?!?).
I'm speculating here, but I think the real payoff for Sony and cell will come with the PS4. Right now a new cpu architechture, new tools, new media format, etc, is hurting them big time. When the time comes for the PS4 to come out I think their short term pain will yield great dividens. Bluray will be dirt cheap by then, so that cost issue is gone. Cell will be well established and understood, and people will have new cell specific codebases established so that learning curve will be gone or greatly diminished. Plus, costs will let them almost certainly including multiple cell's in there and yields will be much better, so its possible there won't be a 'dead' spu in each cell. At that point, with established code, good helper tools and libraries like spurs, and 20+ spu's to hurl code at, I think cell will finally shine.