You're falling victim to the PR spin, especially when he took the time to specifically say last night, "Don't blame this on Conan," when the entire rational-thinking public isn't blaming Conan. Also, remember that he called out Conan's ratings as being a key issue (even though it was solely Leno's ratings that started this whole mess with the affiliates, bitching that his abortion of a show was scuttling their local news and late-night performance) and it's clear he's trying to twist things to make himself look better.
I still can't get over Leno having the balls to say, "It's just business, if you don't get the ratings, you get removed." As has been repeatedly stated, Conan was consistently beating Letterman in the 18-34 demographics, and the ratings didn't go into utter freefall until Leno premiered. Is "not doing well" to mean that Conan's ratings weren't as high as Leno's in 2008? So, what, was Leno as successful as Carson in his first year?
Whether he's being dishonest or he's actually delusional enough to believe his own damage control ramblings, I couldn't say. But either way, he's wrong, and I hope someone publicly calls him out on it.