This blunder of a statement summed it up for me. The author doesn't seem to understand that a significant part of "intelligence" is creativity.
Nothing is ever "over". The culture is just burned out and needs time to digest what it has.
Then somehow magically, every time the economy recovers, a few $positive_adjective people have a ton of creative ideas that take off again. Think about it. Who are those people developing all those ideas quietly while everyone else whines that we're out of ideas? Are you one of them or will you continue to merely react and join the chorus of whiners?