3DS Hacked to Run Unsigned Code (again)?

Is this finally the time for 3DS hacking?  Maybe, since this individual on Youtube has apparently figured out how to run unsigned code on the system and open it up to various other things.  Here’s the video:

So that’s some video ‘proof’ of the whole concept for you all.  But with that said, you’re probably wondering what I think of it, right?

Honestly, I’m not too sure.  On the one hand, it seems like something that Nintendo could quite easily figure out how to patch in the near future and hence something that doesn’t have too much in the way of practical uses.  On the other… if the hacker in this video actually posts how it’s done online and shares the information with people on actual ‘hacking’ related forums, then this could finally be the start of the endless ‘hacker vs Nintendo’ cat and mouse game.  That might not be very good for people interested in playing Pokemon X and Y online in a couple of weeks…

But that’s that.  What do you think of this hack?  And if it is legit, will it finally be what opens the 3DS up to hackers and other unsavoury individuals?