Yes, that's an exact quote...from a designer I worked with a while ago. I tried so hard to laugh along, but inside I was crying. I could feel the frustration of the user who had to wait for ages to download graphics files that should be text. And the search engines that would never rank the page according to it's actual content.
This isn't uncommon. A lot of extremely talented designers have yet to understand the media in which they work. They seem stuck in a print mentality. Maybe this has to do with how they work in PhotoShop. Their creative process is dynamic, as they manipulate the elements of their design, and then they hand it off as a static (often flat) file.
Sure, the ability to import PhotoShop files into Flash helps, but only in the sense that it makes life easier for the poor Flash developer/designer who has to make the design "work".
But if some thought about user experience (other than how a particular font "gives the design its look and feel"), started at the initial design phase the web would be a better place.