What happened to the psp mod chip?

so if u have a firmware 2.8 use the modchip and load up 1.5

i have 1.5 right now but in the future i plan on updating if i buy the modchip

my friend bought a modchip, since he bought a bricked psp for $40. its not worth buying it you already have 1.5, since all it does is let you have the ability to run hombrew on the latest firmware. so save your money if you have 1.5