$1000 and your gaming PC for Alyx is way beyond buying a PS4 for Bloodborne, and even doing that is a bridge too far for me.

I mean yeah. Game consoles are DRM-riddled computers shackled into being toys. Being able to crack one open and turn it into something that can be used in non-manufacturer-approved ways is a cool scene in its own right.

This is “hacked” in the console modding parlance. It’s not about gaining access to someone else’s Xbox to do something nefarious, it’s about running software that Microsoft doesn’t want you to run on your xbox, including pirated games. “Jailbreak” is a synonym for “hack” or “softmod” in this scene.