It seems to suggest thatArnold invented his tale with an eye to writing a story about it...

Project Blue Book was the catalyst to the modern day UFO cover-up that still exists today. The startling fact is we may be in the same position now as we were then, as it relates to the phenomena. We are still in an age of denial about the magnitude of this phenomenon and what its implications mean for all mankind. Perhaps there are secret factions that have indeed communicated with alien entities and have received technology from them. But from the outside looking in, it appears nothing has changed as the UFOs continue to violate our airspace with impunity; and as before, military factions are powerless against the unknown invaders.