He's right.
And even though he's not a "producer" in a sense of sitting and banging out a beat on an MP, he's more of a producer in the traditional sense. He coaches artists and producers in the studio and builds records from scratch, with vision and a roadmap. This includes how the records should be mixed and mastered too. So Puff is definitely a producer, just not in the way that the casuals define the term.
My issue with Puff today, is why isn't he bringing more new artists to the table? He has enough resources and talent around him to sign new acts and put the effort he does into his own projects, into some new blood. His ear is crazy. He could be ushering in a whole new generation of Bad Boy with fresh artists, and he's still doing this Puff Daddy sh*t, lol. I think the new album is dope, but I don’t get why he doesn't invest that same energy into getting new people out.