I think that the original ...
"This is really moronic. Why do people keep doing this?"
... quote, probably refers to the "goose that lays the golden eggs" scenario. (look it up)
Hacking into the iPhone *is* pretty moronic IMO and very "high school." It's no surprise that a lot of the hackers are graduates of the Xbox 360 school of life as well.
The SDK is interesting for me mostly in how it will affect iPhone hacker culture. Being as there are only a very few (and mostly illicit) reasons to hack into the iPhone now, and being as most developers of "serious" iPhone applications will be using the SDK/certification route, the hackers frog-pond will get a lot smaller and a lot more stinky.
Very soon the only iPhone hackers left will be annoying idiot kids, spammers, and those 40-something Russian porno dudes.