To play devil's advocate here, I assume that Krauthammer was looking at it from the perspective of how the average viewer who was undecided or open to switching a vote might have seen it -- not necessarily how he saw it.
I find it hard to give an honest assessment of that, to put myself in those shoes, because there is absolutely nothing W could say or do to make me vote for Kerry. I can't even listen to the man, it's like fingernails down a blackboard. So I think I am completely incapable of giving a realistic assessment of that debate.
I think it's both. He said as much on Fox. He's wrong.