Actually, I think Psychonauts has lots of potential for a sequel. The reason it's not going to happen is that it sold poorly, and publishers don't fund sequels to flops. It's really pretty simple. Whether or not Tim wants to make it doesn't even matter (though what he's working on right now is certainly not Psychonauts 2).
Anyway, the article is very good and it's relevant to Telltale because it touches upon online distribution, which is increasingly becoming more obvious as the future for small, original titles from independent developers. The fact that Tim wants to explore it someday, not to mention other proponents of it like Ron Gilbert (woo! the thread is about him!) gets me excited too. Right now Telltale is focused on PC titles, but the new consoles will also offer other developers the opportunity to give online content to people right in their living room. If independent developers take advantage of that:

[=D>]
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I thought his project tanked.
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It has to get funded and published before that can happen.