I agree with Big Pistons, the theory has been simplified for easier understanding. The 4 points identified are really all that matters. It doesn't hurt to listen to the correct explanation though.
However this has nothing to do with the number of hours a person has logged. I have heard a 5000 hour pilot teach this to a class. Why do people in this industry typically assess levels of intelligence by the number of hours people have flown.
If this is the theory that gets passed down then it doesn't matter how many hours you have, this is what you know and would willingly pass onto the next generation.