I'm not sure it'd be that much of an issue tbh. I believe that they'd have trouble printing the art on the disc, being the main thing; I imagine it'd be pretty easy to spot a fake.
Also it should be noted that this uses an exploit found specifically within the dvd read software on the ps2. Not to say it's impossible for it to work the same way on PS3 etc, but obviously ps3 and beyond use Blu Ray players with newer firmware. It's technically possible that nobody ever found and fixed the issue, but that'd also have to be a bit of a coincidence with the change in physical tech.