While its cool that you can run homebrew and what not on later bios revisions using the GTA exploit, IF the modchip price dropped a bit, the convenience of just clicking a program to open it is a major plus to me.
The install is still the big stepping stone for me. Even if the chip drops to $40, you still have to contend with 40+ solder points in a very confined area. My soldering skills are nowhere near up to the task, and the install price is hovering in the $100 range, and probably won't deviate from that anytime soon.
The eLoader is super easy to use, and a 1.5 even more so. I'll take the 5 second load time for a loader and keep my $140-200 anyday

I do see your point though... I just don't see it being a good deal dollar-wise anytime soon (not for me anyway).