No, you can go back and see he cited the LOTR movies as well.
Not to mention this is TOLKIEN, the most renowned fantasy author of all time, and Rings of Power also had the huge support of LoTR movie goers to watch, it isn't like this show had no help coming in, it probably had the highest possible starting point you could get for a show (HotD COULD have equaled it if later seasons of GoT were actually good, but that is a tangent).
That's a MASSIVE difference to your argument that focuses only on Tolkien's name as though it were the only relevant factor here.
Now, whether what he says about RoP declining that popularity or not, that's completely debatable and I don't see there being any indication for a rise or decline of the property based on viewer numbers alone. It's too early to tell what the impact and reach would be just based on first 24-hour numbers, so I wouldn't be quick to judge that either way.