I really hate this argument - firstly everything the hackers are doing is simply moving bits from one place to another on their save files. It's hardly reprogramming the game to get alien spaceships driving along the track with you or something silly like that, which "modding" has often been seen to be about. Completely changing the game content, rather than just improving it as so many people would argue.
Every hybrided, modded or hacked car in the game - was already in the game to begin with - not at one point did any additional code find it's way into the process of these hybrids so you can drop the argument of "if it wasn't in the game to start with then it's illegal/cheating/ban everyone who does it" because you're so wrong, it's just ridiculous. Like I just said everything these mods/hacks have allowed people to create were already in the game.
In other words people are just spring-cleaning. Moving the dust and dirt around the room, into the corner, under-the-carpet, but not in plain sight because they're sick of it. This analogy is basically stating that the game is 2 years old, this hacking/hybriding business has revitalised it, the community has gotten so many new members - not only ones looking for these cars or to discuss them, but have come here because of them and decided to stick around. So the argument also that the hacking/hybriding is harming business for PD/Sony is another useless argument. There's now more people playing/buying copies of the game and DLC than there was 6 months ago.
And another thing - saying this is all "cheating" is completely ludicrous as well - it's only cheating if you take a car into a 500PP room and it has too much HP, but is still under the regs - i.e. a negative PP car - and then not say anything and win the race. That's cheating, using the game save to move bits of the game around to suit your purposes like making the car you drive in real life simply because it's not in the game (it is, just not in looks) is not cheating either. No-one is adding content/data to the game that wasn't already there before, the game is like a massive scrap yard. Everything within the boundaries is in the game, we can put engines from one car into another and it's still within the "bourndaries of the game".
And this is not me "justifying" it. This is just what's going on now, too many people are doing it, too many people don't care about the fact that it's breaking Sony/PD's ToS or hurting certain manufacturer's reputations because frankly for the number of people that don't like it (in PD/Ferrari or otherwise) there's another 10 that do like it. So don't expect a "ban-hammer" anytime soon. The debate will roll-on about the cars, and whether anything will be done about them, but the fact is they're not external to the game in the first place, so by all means move bits of data around if you want as long as it's within the confines of the game.
If the game thinks it shouldn't happen, it freezes (i.e. doesn't like the changes you've made) - and if the game thinks it's too unrealistic the physics make it impossible to drive (negative PP cars etc.). Anything else is fair play. It just comes down to honesty when online. And this is the difference between cheating and not - honesty. This has been in the game since the beginning, the need to cheat to win and not being honest about it is old, and has not just appeared because of these new-fangled cars.