sure you still need backups.. but CDP can help
1) CDP won't protect you 100% against hardware or site failures, I think this was not the purpose of this interview ... Tape/Archiving is not dead, Mirror/replication is not dead.
2) However, CDP can enhance your existing backup solution with continuous journaling and any-point-in-time recovery, to protect data (databases, messaging applications) between regularly scheduled backups.
3) CDP technology can be combined with traditonnal mirror/replication technology to ensure off-site recovery.
I agree with Gary A, a good CDP solution is application and database aware - clearly you have no idea what you are talking about !