See those Cydia and iSSH icons? How about the Reminders and Newstand apps, see those? What you're looking at is the harmonious coexistence of hacks and Apple's virgin iOS 5 beta release running on a 4th generation iPod touch. In other words, MuscleNerd and Co are letting us know that iOS 5 presents few surprises so far when its comes to closing the existing holes exploited by the tethered limera1n jailbreak.
Update: It's worth mentioning that limera1n is a bootrom exploit that Apple can't patch on the iPod touch through firmware alone. The real test of the Dev Team's wits will be an untethered jailbreak for the iPad 2.