You're talking about lists in general. His system is built on lists. The TODO list, as he's using the term, means a single list where you dump all the tasks you need to do or might want to do. Without further thought, you end up with a long list of items, no guidance about what you should be doing, and stress because there are incomplete items on your list. If you're not going beyond that, the TODO list is a terrible idea.
There's nothing about TODO lists that says you have one list per person. And "TODO lists don't work, unless you have many of them" is counterintuitive and misleading at best.