I read it too.
This exploit is in its early form. Stayed tuned.
I'm sure you've read the issue that started all this but that's off topic and I'll just give the link.
Let's hope this maker closes up the gaps before the full extent of the issue is exploited.
About your items 1,2 and 3. If you look into WiFi security it's quite sad as the router makers still offer WEP and less security which is as good as no security. WPA and WPA2 is mildly better as it takes a savvy person to collect information and use it. For WPA2 you'll use the cloud cracker or that GPU cracker.
I'm sure everyone will downplay the issue here.