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You nailed it. As for the hardware as is now Nintendo is done with it as they are planning to change up the security on it & ship out newer ones that will be a lot harder to hack.
Nintendo is trying to make money on some of the other nes games through their VC eShop on their 3ds/Switch. If they continue to supply the nes mini people are not going to buy any VC games on the eShop because they already have it hacked on their mini.
So expect newer nes mini with its inside changed a lot.