Jensen believes

When asked what he thinks about DirectX 10.1 support in Nvidia hardware, CEO Jen-Hsun Huang said that incremental updates of DirectX are not important.

DirectX 10.1 and any similar incremental DirectX updates are not important and that is why Nvidia is not really excited about them. However, Nvidia is excited about DirectX 11 and they believe that these are the important updates that they need to follow. 

Jensen believes that game developers are not even using all the possibilities of DirectX 10, and DirectX 10.1 obviously brings some improvements, but not enough to really be excited about it.

DirectX 11 games will take probably at least year to show up, probably even more as we still have to see the real DirectX 10 games that can use all available features.