The response legitimizes the news of the hack--"Our security team is aware of this and we are investigating potential solutions to this issue"--and goes on to suggest that the Xbox 360 will likely be patched in a future update.
There are only a few million Xbox 360s in the wild right now without the needed and as-yet undeveloped anti-piracy update. The launch shortage of the Xbox 360 may be a blessing in disguise, in that sense, because it limits the overall damage that can be caused by those who would exploit the flaw for piratical purposes. And yet, we don't doubt that the tireless hacker community will manage to find another vulnerability to exploit even after this patch is released. That's just the nature of the arms race.
Be sure to read the comments. There's a solid
discussion going on there.