My guess is:
It is wrong to criticize fade to black.
Somebody might have been preparing the caption
Need to see all the captions before and after.
That sounds plausible, except I don't think he said "It is wrong to criticize".
I can manipulate it enough in Photoshop (since I don't know what I am doing) so it says "do not believe".
The first X pops up just before the text changes. It could be the switcher's symbol for a cross-fade for dissolve, and it ended up on the program instead of a preview monitor.
Also, part of the black writing looks like a handwritten "18", but that's all I can make out.