Well, at least he is being more straight forward than Comey was. He's laying it out there that in his opinion it's key escrow or else!

Of encrypted device users, just how many have not opted to have the key backed up by Apple or Microsoft? Backing up seems to be default, which is self-elected key escrow. 99% of the the rest of everyday users probably have a 4 digit PIN that can be cracked very quickly under forensic examination. Anyone with a real security need is going to be following their own opsec protocols anyway, which they would do with or without a law preventing good default security for everyday users.

They really do seem to be overblowing just how dark the network is to them under their investigatory powers.