I hope he's wrong. This would be a very bad thing.
Whatever you may think of THQ, fewer major game developers leave us all that much more vulnerable to the trends and whims of those that remain. That much more susceptible to unending sequelitis, always-on DRM, draconian contracts that strip us of the ability to play the games we thought we "bought" at a moment's notice. Every major gaming company that closes their doors is one more echo in the booming voice that says: "Oh, you have a problem? Well, where else you going to go?"
Also, I enjoyed Saints Row the Third, and while trying to push UDraw elsewhere than the Wii was clearly a mistake, I don't think it was the kind of mistake that should be fatal. Other companies have made far worse, and gotten away with it not because they were necessarily better developers (at least, over any given period of time,) but because they had deeper pockets.
So... Here's hoping they can pull that stock up to the $1 mark...