Most of what has been said here about his FAA situation is pure speculation at best and pretty 100% unconfirmed. If anyone had something to say, they are most likely saying it because putting Neistat's name on their information guarantees more views.
If you think his content is crap, don't watch it. That does not make him an idiot. Try this... get up at 4am most days to run 5-7 miles. Film all day long while do your job. Get home around 7pm. Edit video until midnight or so and upload it. Wake up at 4am and do it all over again.... for a couple of years. Do such a good job that you gain 7 million viewers within that few years. When you have done this, feel free to come back here and criticize his work. Actually, forget the two years... do it for just a month and then feel free to judge him.
You think you can do better? Feel free to post a link to a video you created that you think is good.