PSP Firmware Version Changer is released by WAB

I have read news from psphacks.net that WAB released a firmware trick. What this program does, is trick games that require firmware version 1.52 or 2.0 to run on your 1.50 or 1.0 PSP. You won't have to run the updates that are required by new UMD games, simply load this EBOOT, and it makes the system run the game anyways. You can select which Firmware version you want to display: 1.0, 1.5, 1.51, 1.52, or 2.0.

So my question is, since we can make the PSP think its version 1.0 by selecting it. Can we run this hack on version 2.0 PSP. If yes, can we run a firmware update 1.50. Would it run correctly as it should think the PSP is version 1.0 hence update to 1.50. Therefore we should have a 2.0 PSP downgraded to 1.50.

What do you guys think ?

The problem is only 1.0 and 1.5 firmware can run homebrew, so other versions can't run this program.