As said before everything can/will be cracked. Only reason 1.5X versions have not been hacked is because there is little demand as most people have 1.5. As soon as A great game witha a forced update on it comes out a new crack will be made as so many psp users will bite the bullet for the this.
Yeah.. everything can be cracked, but doesn't mean that it will. Took years before the Gamecube was modded, and there are protections out there that still haven't been cracked for years. Same thing could happen with the PSP if Sony made a good enough protection scheme.
Most of the things in this update could probably be recreated by someone. Ex. a homebrew Web browser.
Also if you've got a 1.5, bypassing the firmware update nag on UMD games will be MUCH easier than trying to do it with a 1.5+.
Anyone who wants to keep running homebrew, you really should not update.
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