And for the full fail story behind it, fail0verflow hacking the PS3 presentation is great and covers the bug: https://youtu.be/DUGGJpn2_zY

Most of the console hacking talks are great, both informative and entertaining.

This comic predates that presentation, in fact they use it in their slide deck at 39:00 in your linked video.

That presentation is awesome though, worth a watch either way!