Apple just has to issue a patch for the hack, and may have already, given that the project has been dead for 5+ years.

edit: in 2012, it was deemed not a violation of the DMCA to jailbreak a phone. Whoops.

I don't know what the consequences of exploiting a hole in their security implementation or possibly violating their ToS or EULA.

Trying to profit from such an exploit commercially would test the waters by attracting Apple's legal department.