"Having characters react to you in a way that you believe or is really meaningful with choices you made" - yeah Todd you guys BADLY need to work on that stuff. It's good to see you acknowledge you're not there yet.
I don't think Todd is talking about Bethesda specifically here, rather he's talking about the next wave, or the direction that RPGs are going in general. When he says "we're not there yet," he's referring to the collective industry. Which is great, because it sounds like he's interested in developing mechanics for interaction with NPCs that go beyond what you can see in other games today. Hopefully some of this might find its way into Fallout 4 - perhaps an updated version of the Story Manager?
Wheaton: You are clearly pushing the limits of what is possible for a role playing game on a console or on a PC. Where do you see RPGs going next?
Todd: I think the thing that in general in gaming affects RPGs more is having characters react to you in a way that you believe, or is really meaningful, with choices you've made. We can build pretty good environments, a lot of people can, not just us. In gaming, doing realistic, nice-looking environments, I think people are really good at that. I think the next wave is really, characters, how they respond, where it feels as real as the environments do, and we're not there yet.