Considering all but about 15 aircraft are already sitting idle, and we're still understaffed for what we're currently flying, Id say he's pretty spot on.

Vacancy out today has another 20+ captain vacancies, which makes for almost 100 upgrades in the last three months. Add to that the massive captain attrition, and the upgrades should continue indefinitely. Again, no gold plated rainbows here, but it could be much worse.