I don't disagree with what he is saying, but the man is clearly a moron. First, how in the world is an American organization going to institute a rating system for the whole world? We gonna start invading other countries over it? "We don't care if you have democracy, but you must institute this rating system!" My second problem is that it being free should not be a selling point, but that is how governmental organizations work. You must adhere to their system in order to operate, and you must pay them to be part of that system. You get this with ESRB, you get this with XBLA, and you get this with housing inspectors.
I think what people fail to understand is that the ratings are suggestions and not law. When it says mature, the suggestion is that it's for someone at or above a certain age. That is how these organizations work (in most places in America). You have the right to not have your movie, book, or video game not rated and still sell it. You may limit your outlets by not having something rated, but rating agencies are far from necessary.
I'll use comics as an example. For years comics published under the iron fist of the CCA (comics code authority). It wasn't until comics actively stopped looking for CCA approval that it really took off. Ignoring it allowed for more adult, more serious, and more socially impacting stories. The first thing Marvel did without CCA approval was a story arch where Peter Parkers best friend, Harry Osborne, became addicting to pills. That was a huge problem at the time and here you had a government agency actively stopping the publishing of a work that could inform kids and adults about the dangers of it.
Edit: Also EA CEO "move beyond alphabet soup". Nice.