Not at all. Well, yes, he is quoted as saying something that can easily be interpreted as that but I really doubt that was the context for his statement.
Look at space travel versus automobile.
Both went through their meteoric rise in popularity and CAGR. Space race climaxed and most certainly crashed after the Apollo program was cancelled.
Automobiles don't give us 10% per year improvements and yet the industry is thriving. (we just don't treat them like disposable assets

)
Now some people want us to view the ending of Moore's Law as being akin to the last chapter of the space race to the moon, after which everything is supposedly going to implode into a singularity and the semiconductor industry will shrivel into a shadow of its former self as the money stops flowing, consumers stop spending, and innovation stops happening.
That was, to a large part, how the space race fizzled. No moon bases, no trip to Mars or Jupiter's moons, no space hotels, etc.
But that was because people were not dependent on that aspect of space travel. We became critically dependent on satellites though, and the commercial satellite business has steadily grown year after year, albeit off the front page of any major newspaper.
And look at the auto industry, we are critically dependent on our vehicles. So despite being a mature industry, and despite the rather abysmal rate of improvements in terms of energy efficiency and safety, the industry continues to grow larger every year (recession induced dips withstanding).
So which do you really think the semiconductor industry is going to follow? The space race or the auto industry?
I think we are too dependent on our computers, for both work and play, to decide we aren't going to pay for a 10% increase every year. I think we will continue to pay for it, but we won't be replacing stuff every 12 months anymore.