http://smealum.net/?page_id=299
everyone should read this. this should clear up all the confusion here.
Yeah exactly. This could indeed be used for piracy and smea/Jordan himself isn't really against it, but he doesn't want any legal issues like geohot any many other teams got; while still being in the spotlight (else he would have released it anonymously). That's why he worked on the card saving method instead of letting it run on the sd card or nand. I think it won't take long though until GW or some other team reroute this though. And you could even interpret smea's sarcasm in some of his statements as if that's what he even really wants himself.
And he also knew that we could figure it out now thanks to the available tools/keys out there. If he REALLY didn't want to piracy to ever happen, he would never have released it.
I also do think that giovanny isn't a complete noob/illiterate or whatever as many people are stating now. Even if he really stole the cfw; it takes a bit (albeit not that much) to do what he did.
So maybe he will be the one to make this happen. I personally bet more on GW though. And this code was exactly what they needed.
So in the end he got what he wanted. The scene/community loves him. He also got something to show off at future job interviews etc, it's a big merit I mean. He can't get charged for it as geohot got, because he purposely engineered it to not allow piracy (with a lot of extra effort). And even if GW make piracy happen through this, we/the community will always credit him for it anyway.
But that's just how I see it. Maybe I'm completely wrong.