Blu-ray is DRMed, so the stock firmware is capable of telling you 'no'. You don't always get direct access to the bits on the disc with the stock firmware (you can write your own discs that aren't protected, but store-bought ROM-discs are (always?) encrypted. The flashed firmware gives you direct access to the bits on the disc no matter what (region codes don't matter, the encryption doesn't matter, since your custom firmware will happily decode the disc and just hand you the files on it).