What this does is increase the possibility of someone finding how to bypass the signature verification check and then running their own code.
Secondly, yes, asymmetric encryption is slower, so you almost always use hybrid scheme: asymmetric scheme (ElGamal, for instance) for encrypting the symmetric key, and then a symmetric scheme (e.g. AES) for the bulk of the data.
Only in very exotic protocols such as digicash blind signatures or anonymous credentials with "algebraic MACs", you want your actual content encrypted directly via ElGamal or RSA, so that you can do some operations or proofs about the ciphertext — in those cases you can't encrypt symmetrically as that would erase all the algebraic relations.
Sure, but we might (potentially) be interested in the encryption part later on too, and having a symmetric key will make that easier (though of course it won't get you past any signature checks.
I've never come across those more exotic protocols, but I'm familiar with symmetric kex under public/private encryption.
Of course, there are still advantages to having the symmetric key not be used as is, but there are many solutions other than asymmetric encryption.
Typically to securely encrypt a message you use symmetric key encryption. Then to allow a third party to decrypt that message, you encrypt the symmetric key using the third party's asymmetric key.
I'm not in the jailbreaking space, but I guess that what it means here is that some people may find flaws in the code and leverage them to potentially bypass the signature verification, although this might prove very difficult to do. It might also help emulating the PS5 behavior which in turns could lead to some modding/cheating for some games. Who knows ?
With symmetric encryption, both the encryptor and decryptor need a copy of the same key- that's what makes it 'symmetric'.
But with asymmetric encryption, the keys do not match. This means you can encrypt or sign the data with your private key, and then keep it private. The matching pubic key will decrypt or verify.
The device would not have a copy of the private key in it, so it's unlikely it will ever leak.
The hackers will come up with a workaround, they always do. I eagerly await the 33c3 presentation.