He is very very very wrong.
However, consoles are highly optimized for the games they run and vise-versa. I wouldn't doubt that, hardware-wise, most users are running a more powerful rig than what we find in the Xbox 360. When they engineered the console, it was about balancing costs with demand. If there is a performance boost, it is preferably done on the software level.
Basically: No, the hardware in an xbox 360 isn't that great. Its the predictablity of its platform and the heavy optimization in the console that makes it a powerful machine for running games, not the hardware.