Just about everyone who knows what they're talking about agrees that he was wrong. The theory proposes that matter is continuously appearing out of nothing. There is no evidence for this and the theory cannot explain cosmic microwave background radiation. The general view is that discovering the CMB put the final kibosh on continuous creation, while the Big Bang theory easily explains it and in fact if the Big Bang is true, we should expect it.
Which was the view of a team at Princeton in the 1960s... if the Big Bang is true, surely there should be echoes of it, which by now should be detectable as microwaves. So let's look for it. Meanwhile at Bell Labs, Arno Penzias and Robert Wilson were having trouble with their horn-shaped radio telescope. Whatever they did, there was this uniform hiss from all over the sky. As it's coming from everywhere, must be something wrong with the telescope. They checked it over in every way, removed quantities of "a white dielectric material" (bird poop), same damn hiss. Somehow they were put in touch with the Princeton guys, who realised that not only did their predicted radiation exist, Penzias and Wilson had found it by accident. And everyone won the Nobel Prize.