It would probably have to be a REALLY simple design unless you can shine the kernel exploit over it (so we can have SD card access, maybe a GX2 GUI so it's easier to get around). A non-kernel version of the app will probably be stuck with the lame console GUI (just text-based interface) and you'll no doubt have to just load media over the network...
So in my opinion, it will probably happen some day, but not anytime soon due to the above facts.