Just because you're root does not mean you get any entitlement you want, or arbitrary access to the whole filesystem, arbitrary memory access (a la /dev/(k)mem), or can replace the kernel just like that.
(That's also probably why you don't hear of iPhones being "rooted", but rather "jailbroken". Just being root on an iPhone wouldn't do that much.)
Make no mistake, this is still a privilege escalation attack and needs to be fixed.