All true, but you don’t need to crack the hypervisor to play cracked games, and if you manage to jailbreak your console there are game backports for older firmware versions.

Also, there are unreleased kernel exploits (i.e. jailbreaks) even for the most recent firmware versions, which will inevitably come out in the future.

The scene is not as mature as PS4, but a lot of progress was made this year.