> WTF does he actually know about the REAL manufacturing industry? Nothing.
Actually I'd suggest he understands very well. As mentioned earlier, his products were famously "not the best", but people bought them because they were cheap. So he understood the demand side very well - if you sell something that's "good enough" then people will buy it if the price is right. The supply side is that you need to know how to make something that's "good enough" and can also be sold "cheap enough" for people to buy it.
History is full of examples of products that were either "very good" but too expensive so people wouldn't buy them, or very cheap but not good enough. The vendors often didn't survive.