I am a only a casual spectator of PS3 stuff but I remember watching the presentation from the guys who hacked it and they even got the private keys. This was meant to it, the PS3 blown completely open forever, no way to fix it.
I do not know if that was quite the idea and I am quite impressed Sony managed to claw back as much as they did, but there is a large difference between fixed forever and fixed so people can no longer hack it with any old USB drive (people seem rather too attached to softmods). We have not really seen any proper proper hardware hacks to my knowledge either (this sort of thing probably the most advanced) that work alongside this new stuff (some of the timing stuff was pretty good) and barring the new hardware there are some options to go back.