I knew the iphone 5 wouldn't last long

it would appear so, no proof of APT working but it looks legit.

dev is working on A5 device and A4 is already teathered on ios6
 
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it simply opens the iphone upto none apple signed code.

So people can code apps.

So two of the most used apps are appcracker and install0us.

appcracker removes the need user detail in short so you can upload the app and then others download it via install0us for free.

there are tons of other uses but most are happy with that.

****NOTE****
That is a very basic and one sided version of it.