IIRC, Atmosphere can boot but crashes really early. Basically, all forms of CFW are still in there infancy (except private ones we don't have access to/don't know about) and can't run on a stock console without a lot of work. Atmosphere will likely be running on homebrewed consoles this summer, but expect a lot of crashes and bug fixes and impatient users driving devs out of the scene.
And the race isn't "over". The race is over when the first widespread CFW is released and his little to no bugs with decent functionality. When Russia and the US were in the space race, was it over when Russia sent sputnik to the atmosphere?