Indexing and active management can coexist. For investors who want to, or can afford to, take bigger risks, having a portion of their assets in actively managed funds might be appropriate. He's already got his retirement assets. Finally, many investors are well served by combining a core portion of their investments in an index fund with an additional investment in active funds. In it, he equated investing to casino gambling.
Some people win money, others lose money.
But in the aggregate, they end up with less money than they started with. The casino siphoned off the difference. And that's the same in investing, because you have financial intermediaries that are taking money out of the system. There will always be winners and losers in a casino. Of course, we don't know who the winners will be.