>>14665356It's a glorified bootleg. They still have no idea how to actually look into the games, they just managed to make essentially a third-party game card you can swap the guts of.
There was one group that made some minor progress on hacking the 3DS OS, but their exploit was long patched out by Nintendo and as far as I know they never made any real progress when it came to software outside of one or two simple homebrew programs.