It was probably for more than that--they usually say very little about what the updates actually do, but there must be a lot of behind-the-scenes stuff--support for games, apps, store stuff, security, etc.
The fix worked for me. My PS3 is back up. It had to rebuild the database but not a bid deal. I've taken auto updating of the system updates off of the auto updates. I won't be installing any system updates as soon as they come out any time soon! ;D
Maybe we should lock this thread or give the firmware version number in the title so it doesn't keep scaring me when it comes up in the "What's new" list. : o
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