Like the PSP to an extent and especially the Wii... Lots of featureless firmware updates
But look on it from another side. I don't have a Wii (nintendo hater here >_> ) , but i do have a PSP.
And i admit, it's not the best console ever and there's not really many of AAA class games, minus some that someone won't like, because it's kinda rare if someone likes all game genres. That leaves that console with maybe 5 - 6 good games for me.
But CFW have added a new life to it, some homebrew has nice features, that Sony didn't added, because they were too lazy. Like listening own music when you are playing the game (any game, not GT only) for example. Or book reader (for PDF and txt).
So no, CFW is not bad as long as you don't use it for illegal things. Even ripping your own iso to have much faster loading times than from UMD is worth it, at least for me.
Only thing that are bothering me, is like i said, possible cheating engines/programs.
If people cheating offline, it's ok, i don't care, Even if people will get all cars in 1 sec and will use them online i won't care too, grind or b-day glitching or instant cars, doesn't really mater.
But those things can be used for something different, since they have a control over console's RAM.
In case with GT5, i think those things will be possible: crazy speed on any car, unreal grip and so on.