I think it's pretty much spot on myself and applies to more than virtualization based on the last point. It really suggests that further complexity and abstraction is not a good security posture. And I agree with this from extensive experience (embedded, defence).
Regarding the two decades since and the numerous exploitable x86-64 and hypervisor bugs suggests he wasn't wrong and that the tone was appropriate for the severity of the problem.
Regarding the two decades since and the numerous exploitable x86-64 and hypervisor bugs suggests he wasn't wrong and that the tone was appropriate for the severity of the problem.