Hacker xorloser has come out of a long period of radio silence to publish some tools, aiming to help reverse engineer the Wifi/Bluetooth firmware of the PS4.
Xorloser has confirmed that the Wifi chip firmware is unencrypted on the PS4 (something that modrobert also mentioned 4 years ago), and provided a set of scripts to help with the reverse engineering process (namely a script to convert the firmware into an elf file as well as IDA 7 pro utility to help with the actual reverse engineering process).
Documentation on the Wifi chip is a bit sparse at the moment, but reverse engineering the PS4 firmware should be some collective effort, and people who want to help with building open source SDKs moving forward now have some tools to help on that part of the firmware.
There’s also the possibility that the wifi firmware could have some bugs, which ultimately could lead to discovering some vulnerabilities/exploits. Because it is unencrypted, this means such exploits would be “easier” to find on even a recent firmware.