I watched about half of his presentation. I was amused because on a lot of the slides he says something like "except on really low end embedded CPUs." I spend a lot of my time programming (frequently in assembly) for these exact very low end CPUs. I haven't had to do much with 8-bit cores, fortunately, but I've been doing a lot of programming on a 16-bit microcontroller lately (EMC eSL).
I suspect the way I'm programming these chips is a lot like how you would have programmed a desktop CPU in about 1980, except that I get to run all the tools on a computer with a clock speed 100x the chip I'm programming (and at least 1000x the performance). I am constantly amazed by how little we pay for these devices: ~10 Mips, 32k RAM, 128k Program memory, 1MB data memory and they're $1.
But they do have a 3-stage pipeline, so I guess some of what Dr. Cliff says still applies.