Very much disagree. He said there was no video supporting the 3:38 sighting, which is not in any way saying it didn't occur. They simply can't corroborate the sighting.
I'll also say, he was extremely confusing, referencing the previous video and timeline known to them. I'll check around if anyone can provide a transcript or at least an archived video of this PC.
That is definitely not what I took from that press-conference. He said nothing to suggest that sighting at 3:38 am could have actually taken place, but not on video.