He might have jumped to a conclusion, yes. He even said the operation frequency is software controllable, and I'm sure HP made their homework on that, by changing the speed dynamically and using sleep mode as appropriate. If they didn't, and always run at 30 MHz and no sleep mode, then they suck.
And no, it obviously doesn't "more than compensate", by sheer math. 100 times the power for a 10th of the time, as per the topic of the video. At best it doesn't matter because the time spent not idling is so short.