That was from one of the inventors of the CD in a trade. I suppose he could have been mis-quoted.
Then there are still the "severe quantization errors" caused by the inadequate bit rate of the technology of the time.
In any case, it's about picking your distortion, as no recording medium faithfully reproduced the original.
My ears tell me that vinyl is warmer and digital is edgier. My ears tell me that my all-time favorite sax player (who I have heard live) Stan Getz sounds more like Stan Getz on LPs and his tone drifts more towards Zoot Sims on CD.
After saying all that, I listen on CD because the tone distortion is less annoying than the pops and clicks.
But back to the topic. While most people have historically have not cared that much about recording quality, I don't think Vinyl will save the business. After all, not only did we listen to 45rpm records, but 8-track tapes that would sometimes fade out in the middle of the song 'click-click' change tracks and then fade in for the rest of the song (that was definitely a deal-killer for me). Then we had the high frequency starved cassette tape (with his) and the lossy mp3 format.
Like many things, dinosaurs, steam locomotives, drive-in movie theaters, MS-DOS, vacuum tube radios, floppy disks, etc., the recording industry is past it's prime and possibly on the way to extinction.
If I knew how to save it, I'd go into the consulting business.
Notes
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