He was merely making the point that hard work and smarts doesn't guarantee success. Lot's of people work hard and are smart and are not successful. Some other element often goes into it. It isn't a rant against entrepreneurs, or against hard work and smarts. It is an advocation of building the basic infrastructure and institutions which create environments to make success more likely.
It is in many ways a very similar argument to what Republicans say when they advocate for creating a more favorable business environment through things like lowered taxes and reduced regulations. Are they ranting against entrepreneurs when they say these things? Are they arguing that hard work and smarts are worthless? No, of course not, they are just trying to give business owners a boost.
Unfortunately, as seems par for the course these days, conservatives seem unable to have an intelligent discussion about what was actually said, and instead twist it into a form to support their Obama is a socialist delusion.
John Lovitz? Really?