He's literally comparing N.O.-XPLODE to Japanese sencha. That stuff literally causes ADHD and stomach cancer. He also argues from a very personal perspective—yes, it's unfortunate caffeine gave him some panic attacks on occasion, but no, that doesn't mean it generally depletes you or is a bad thing for everyone else.
There are plenty of studies suggesting the opposite, that caffeine upregulates dopamine receptors, that it fights Parkinson's disease, and improves attention span.
I really don't buy the dependence issue either. I've given my tea to coffee drinkers and they say it keeps them up for days—so it must have an extraordinary amount of caffeine—but I can quit it no problem.
I don't know if it really depletes you or makes you more or less productive. Either way I don't get much done.