Genetic modification existed before genes and polysomy (multiple chromosomes) were even understood. They just called it artificial selection, breeding, or cultivation. The wheat in that cereal, for example, is a 9600 BCE product of humans determining the evolutionary course of grass. They did this by creating a plot with a strain of grass that had the potential for many useful traits, and then saving the resulting grasses that had all the desired traits while destroying those that didn't. Was the process natural? Absolutely not, it was entirely controlled by man. But nonetheless, we can all agree that for those who aren't allegic or intolerant to it (especially its gluten content), wheat is a healthy in moderation, cheap, and easily accessible source of proteins, dietary fiber, and carbohydrates, especially in the whole grain form which preserves additional nutrients and dietary fiber.
However, Monsanto-style genetic modification is useful for corn to protect against corn borers, a parasitic and ravenous insect that raid corn fields en masse and can cause upwards of millions of dollar worth of lost crop. Modern corn untouched by Monsanto has no traits that allow it to defend itself from these insects, so humans instead engineered one by inserting genes that cause corn to produce the Bt toxin in a form that is very deadly to corn borers but completely non-toxic for humans and pollinators. While there was some hysteria over the matter, the scientific community ultimately deemed this modification safe for non-pest consumers and pollinators.
However, I do think that the Monsanto suit is BS. This is because corn is very good at transferring helpful genes to other corn plants that lack them, making it impossible to control if a corn crop will end up developing the Bt gene or not until the corn is mature enough to determine its final traits. The exact method by which the genes are transferred isn't fully understood beyond having something to do with pollen, but farmers shouldn't be punished for that. Unfortunately, that doesn't seem to be the point of David's posting who instead wants to peddle GMO hysteria.