No, he talks about status signalling.

They might pass the time doing those things, but not as a mere passtime or hobby, like if they were sewing or playing CoD. Unlike those, doing them and telling about doing them serves a specific social purpose.

I have several hobbies, and none of them revolve around artifical scarcity or gatekeeping.

(Well, the way that _some_ people play Magic: The Gathering does - but I wouldn't want to play with anyone who raised a stink about proxies)