Rubbish. He does overhype stuff, but barely to that extent.
1) The iPhone was indeed a jaw-dropper, and was indeed revolutionary. You just need to compare the mobile industry from Feb 2007 to Feb 2011, and see the complete change in the industry (no more Palm...Motorola is struggling...Nokia is not making any more SW, etc..)
2) The iPad was revolutionary. You just need to see what every other computer maker is doing to see how true that is.
3) The App Store is...