I don't think this will be really popular, as many know, the most used "homebrew" is the one were you play the game without actually having it in your possession. This way you cannot damage or lose an original game, amirite?
The Vita already allows for this; you can get the games on PSN.
It just depends on what people will make with it. I am currently trying to draw a sprite! Woo! But hey who knows.