1. The most important skills are system-level organization and data organization. For those who instead focus on tools and skills, there is always legacy software. People still make money programming COBOL.

2. The only part of this that might be true is that salaries seem to hit a ceiling, no matter how valuable a developer is. However, I've seen this circumvented time and again by rewarding equity instead and large bonuses. When I tell people I am a programmer I don't get scorn, I get awe as they know I make a good bit and they don't understand what I do.
It is true that in many business organizations IT is classified as a cost center, but that can be overcome either by playing politics or by working for a tech company. SalesForce is probably the best example of this.

3. Racist bullshit. Unemployment among computer programmers is ridiculously low and even those are driven up by all the terrible programmers no one wants to hire. It is almost impossible to hire experienced programmers because there are far fewer of them than their are programming jobs. This is what happens in a high-growth industry like ours, especially without a good educational pipeline. While it would be easier to hire if these companies got over this ridiculous aversion to spending more than $130k a year in salary, it remains that there is a huge shortage of coders. It is true that if you want a white-bread, old-school, Mad-Men-style profession this is not the one. On the other hand, if he thinks finance hasn't been internationalized he's full of it. We live in a global economy, and that is a good thing. Many of our tools are coming from around the world, and our tech companies make enormous amounts of money selling abroad. We are not the losers of the push towards automation and globalization.

4. The practical ceiling on salaries does tend to push good programmers towards management, both project and upper management. The best software companies I've worked for have all been run by ex-coders. There is lots of bad project management out there, much like there is a lot of bad code, but a good project manager makes a world of difference. Some of those people even use Microsoft Project ;-) Blaming the tool is as useful as blaming programming languages for people who write crappy code.

4. Do cubicles suck? Of course. But I believe they are mostly a problem of architecture, not industry. Used-to-be manufacturing spaces are cheap and easy to convert. Our companies don't have 30-year histories, much less 125-year-histories of the kinds of law firms he's talking about. And if he thinks being a developer sucks, he has clearly never practiced law. In both law and finance, offices are the purview of high-status manager-types who earned their way there through grueling hours of back-biting and office politics, destroying their bodies in the business: http://www.abajournal.com/news/article/investment_banker_stu... This, of course, after taking on significant student debt and managing to pass the bar (law) or get a highly-competitive entry-level job (finance). If, say, you happen to fail the bar, you get all the debt and none of the working conditions.
Also, he is massively generalizing. I have a 30" monitor at my job. Many companies instead provide two 27" monitors. Some companies are cheap, but it is not universal. I get free meals, gym memberships, classes, flex time, the ability to work from home, the ability to advance without working more than 40 hours a week, a good salary, equity, respect and I know that in the worse case where I was stuck at one of those crappy companies he describes I could successfully strike out on my own, consulting or founding my own company. I'm willing to accept cubes for those advantages.

Never have I seen people able to whine so much about getting paid three times the median wage as coders do. Wait, no, I take that back: both lawyers and investment bankers complain more than we do.