At this point, there's no reason to own a vita and not mod it. That doesn't necessarily mean pirating every damn thing. Just being able to put a SD card in the system without spending hundreds of dollars on proprietary junk SD cards is worth it all in itself. The mod scene is really crazy with the apps and tools that unlock it to it's full potential with changing clock speeds, allowing use of dualshock controllers, using launcher programs that change the whole UI, and retroarch.
Not to mention the SD cards are more reliable (and obtainable) than the vita memory card.
Yea, hacked my vita tv and downloaded all my owned PS1, PSP, and VIta games to it... fully playable.