Godin writes: "This is a whole new way of doing business."
Well, if it is such Seth, then surely You aren't the first marketer to spot this. Therefore, Seth Godin shouldn't take credit for revealing some of the powers of storytelling in marketing.
Other authors were there long before him (e.g. Laurence Vincent, John Simmons, Steve Denning, Christopher Locke, Dave Snowden), who managed to go deeper and further. Mind you though that their individual approaches are very different.
Much of what Godin calls storytelling are simply elements of marketing strategy (already well know to marketers) presented here in a new wrapping called "storytelling". But just because you say so, that doesn't make it so!
Where he writes "You can't out-Amazon Amazon" and "Make your story stand out from the competition", he is simply describing the importance of positioning, and similarly it isn't 'Rocket Science' when he says "Cheap is not marketing". Rather it is leaning up against men like Michael Porter who have been discussing the inherent dangers of price competition for decades.
He does however practice what he preaches. He tells a story that his customers want to believe. It is a pleasant though that success can be achieved simply by telling cute little stories. It is however not as simple as this, which is why I suggest you explore other authors too (See above).
A point I fully agree on is that: "You must aggressively go to the edges and tell a story that only you could tell." However, I don't feel that Godin has followed his own gospel in this case. The story he tells in "All Marketers are Liars" has to a wide extent already been told by a number of other skilful authors.
He still gets 3 stars from me, because I welcome any additions to the body of knowledge available about storytelling in marketing. I believe it is a powerful tool, and it deserves wider recognition.