I found this quite interesting, I realise that I am slightly bias and have little understanding in relation to the music industry as it was. That said I know the difference between tape splicing, 24 track analogue editing and digital editing. Some times in the entrenchment of the old it is difficult to see the virtue of the new. I also know that musicians do not make the best lecturers.
I would have liked to have a conversation with Pete regarding the release of garage band, audacity and 1001 other free or low cost audio software that have made music creation and it's distribution accessible to millions instead of through a "producer elite". Also the merits and pitfalls of a click based economy vs loan for your first 2 albums.
Personally I find his argument superficial and his anger misdirected. Better the venom pointed at x-factory production methods. I desire to debate a successful musician who achieved his success under a different system of constraints. I feel he is decrying a world that is gone and his ardent anger based in candy coated reminiscences of the past.
Let us not forget this isn't the first time Pete has FAILED to understand the FULL implications of the internet.
I can see from the transcript of his lecture he mainly decried the ability of the BBC to "keep up". I still feel there is a fundamental lack of understanding here.