I watched this yesterday and even I was cringing for both of them because i like LTT but GN's points are valid, but also you can tell this was a very tough video for GN to make.
There's a certain tone or cadence to the way that Steve talks that really makes him sound like an authority on the subjects he's talking about. Like an old school radio reporter from the 30s or something. Not sure exactly how to describe it, but once you hear him say something, you know it's a very serious topic.
Either way, I think GN made some very valid points, but also some much less so. I mostly watch LTT for the entertainment value but I've never taken their reviews particularly seriously. I've always hated how LTT handles charts and data - they just zip through the data so bloody fast. At LTT it is clear that Linus knows his stuff, but it's also clear that he's not trained as a scientist or engineer in the scientific method. Listening to him, yiu can tell there's a lack of knowledge in the methodology of setting up an experiment, but on the other hand if you step back for a second, you realize how ridiculous some of the topics all these reviewers obsess over really are. 5 FPS in a game that's already getting 150+ is utterly pointless in the real world. These are just games, guys. It's not the end of the world here.
I'll continue to watch LTT, mostly for TechLinked and now GameLinked because Riley, James and now Jacok crack me up.