The amount of misinformation in this thread is... staggering.
While some people may be out to make a pretty penny with the knowledge about the FG exploit, Atmosphere is not involved in a race of any kind. It is about making quality software and releasing it when it is done.
So to address the rest of the half-truths in this thread:
Atmosphere uses a boot loader called "fusee", specifically "fusee-primary" to kick off basic hardware functionality and "fusee-secondary" to load up the CFW proper before executing it. While the names are similar, Atmosphere is not "wrapped in a fusee gelee payload". The original fusee gelee launcher is a viable - and for the time being the primary - method to load fusee-primary.
Furthermore: Atmosphere is making real strides towards booting. It does not fully boot yet, however. The original target release date of June 15 is still pretty realistic, I wouldn't be too surprised if we saw something cool a few days early, as an end user you should still wait for that day though.
And finally: We don't know for sure what Team Xecuter is using in terms of software. Since it is not unlikely that they use at least part of AMS' code, we should definitely be demanding to see source from TX. If they use AMS code, they are legally bound to make that source available to us, whether they want to or not. Regardless of what they actually use though, the video they posted is misleading at best, since it seems to imply cart emulation and the chip responsible for reading game carts is still very much secure, even with total control over the system having been achieved. Cart emulation is not a thing that is currently possible and if someone says they did it and tied money to that, I'd be more than skeptical about such a proposition.