The worst thing Sony can do to stop this is probably just to block us from PSN again. I don't think they would actually brick people's consoles... But yeah, you can never be too careful. Let's hope it takes a while until they find out about this.
Just to confirm: Everything works! PlayStation Store, PlayStation Home, and playing online You probably won't be able to play backups since they require you to have the latest version, but still. My purchased games works perfectly