He is saying that under Zenimax Bethesda would have already released the game, which obviously wouldn't be in as good a shape with a years more dev time to fix issues.
Todd has already said as much.
Microsoft gets a pat on the back because they were prepared to cop the flack for the game getting delayed, and for putting more money into the game to have it release in a better shape.
Double Fine said the same thing about Psychonauts 2.
I get what he is saying, and I even addressed it again in a later post, but also in the post you are quoting. However, the game would still exist + one more platform to its list.
Now, how Bethesda would have handled it on their own is anyone's guess—and—yes, it makes sense to me that Todd would acknowledge the benefits his game got due to extra time and resources; why wouldn't that help? But that does beg the question, why wouldn't he make the same decision?
I thought the point was, of the conversation that was happening, is how little influence MS had over shaping the game itself—they provided more time and resources, which I don't think was being contested anyway. In the end, it matters little, given the publisher is now owned by MS, so don't make the mistake of thinking I don't understand.
To put it simply, the game does not exist because of Microsoft/Xbox and as of right now, the game will help MS/Xbox more so, in how it shapes its future which I don't think is a bad thing.