Uninspiring, perhaps, but he was proved correct by events. "Provincialism" within the Navy was a serious problem during the war; for example, rivalries between destroyer guys vs. battleship guys vs. carrier guys was apparently pretty intense. Roosevelt had probably been dealing with intra-Navy rivalries that very month or year.
In terms of sabre rattling ... you're right, there's none of it. But then, why should there have been? True, there were ominous signs in Europe, and Japan was troublesome in the Pacific ... but there was no actual conflict, and the mood of the nation was very much isolationist.
Roosevelt was never noted for being much of a forward-looker, either. He probably would not have been thinking yet in terms of serious preparation for war.
For any Herman Wouk fans checking in, I believe Warren Henry was in the graduating class attending this address.