I think another name change is planned. Sometime this year the name will become "The Wrestling Channel"
If there is a class action I will deffinatly join. I use my ps3 to run Linux and to play Bluray movies. When I am in the PS3 OS I disconnect from the network. However there have been 2 movies that forced me to update in the past or I could not even watch them. This will be how sony forces you to lose OtehrOS. The will come up with some lame excuse that to enable 3D support they need the space in the firmware that OtherOS takes up. Sony is far more deceitfull than Microsoft and Apple combined. Hopefully the BluRay of Sherlock Holmes that comes out tuesday will not force an update either, but I would put money that the first majory sony picture to come out on BluRay after they push the update will force you to update for one reason or another.
This is just step one in the overall sony plan. Rumor has it that later they plan to begin charging a service fee for PSN. That would be fine but there will be no concessions for people who have already downloaded or bought games that depend on it under the guise that they would have free continued access. Beyond that the required updates will also only be available via the PSN so if you dont pay, you wont be able to update, and if you dont update you will not be able to watch new movies that you bought. It's economic terrorism.
The sooner you fall behind, the more time you have to catch up.