Sure, but this makes it possible to dump the firmware for further analysis. I think that's the big news here. Think we might read about a few new bugs over the coming months. Also it might be possible to flash new firmware (to lock it down).
It's a nice thought, but I don't think it'll allow us to flash new firmware. We can already flash firmware on Intel chips, but the firmware has to be signed using Intels keys. The signing verification still happens on the mask rom which is impossible to overwrite.
Maybe this discovery will help us understand more how the verification step works. But I think the best we can hope for is a way of overwriting Intel ME very quickly after it's booted every time.