What's wrong with Cabernet?

What's wrong with Cabernet Sauvignon? Brian Croser (pictured) addressed this question below in a speech given to the New Zealand Cabernet/Merlot Forum in Hamilton for Hawke's Bay growers at the end of last month. He has been busy speechifying recently. See Croser's answer to Oz travails.

Cabernet Sauvignon is frequently blended with other red varieties in most of the wine regions of the globe. By comparison, the other contender for the throne of the noblest red variety, Pinot Noir, is rarely blended with other varieties in the production of dry red wine, other than in that exotic outpost of Australian viticulture...